Ugaoo Raises INR 47 Crores in Funding

Ugaoo, a leading urban gardening company in India, has successfully raised INR 47 crores in a Series A funding round led by V3 Ventures, with participation from existing investors DSG Consumer Partners and RPG Ventures. The funds will be utilized to scale production to 5 lakh plants monthly and expand their operational footprint by establishing 80 retail stores across the top 10 Indian cities by FY 2030. Ugaoo has experienced significant growth, with revenues increasing from INR 24 crores in FY 2023 to INR 63 crores in FY 2024, and it currently boasts an annual recurring revenue of over INR 100 crores. The company operates from a 25-acre farm near Pune and plans to expand its production capacity to 100 acres within two years to meet rising demand. It aims to enhance its product range by collaborating with international suppliers to introduce exotic plants and premium care products, targeting a demographic primarily composed of women aged 25-60. The Indian home and garden market is projected to grow at a CAGR of 30%, presenting substantial opportunities for Ugaoo as it transitions from an unorganised to an organised market.