Flower delivery startup by Duo Sisters generates INR 8 cr turnover annually. Grabs INR 1 cr for 2% equity from Sharks

Flower delivery startup by Duo Sisters generates INR 8 cr tunrnover annually. Grabs INR 1 cr for 2% equity from Sharks

With an investment of 10 lakhs from Angel Investors, Duo sisters Yeshoda Karutari and Rhea Karutari started a floral startup in Bengaluru in the year 2019. Now the annual turnover is clocking over 8 crores.

It was a simple complaint by her mother about the dearth of puja flowers in their area. This is where Yashoda had to think of starting a business, hence Hoovu Fresh takes birth. Hoovu means flower in Kannada. With her sister Rhea, the 27 year old entered to explore massive market gap in flower industry. Since flowers are everyday need of Indian families like milk and newspaper. So they started delivering flowers doorstep, and provide subscription based services. Flowers can be ordered via Big Basket, Zepto, Milk Basket, and other grocery apps.

Flower business was not new for them since their father Ram Karuturi owns rose gardening in Kenya, Ethiopia and India. So it helped them to explore more. Along with flowers they also have incense sticks on subscription. Hoovu Fresh is currently in 8 cities that are Bangalore, Hyderabad, Pune, Mysore, Chennai, Mumbai, Gurgaon and Noida. They have fulfiled more than 2 million orders and dealt with more than 300 temples and 500 farmers in India.

Their innovative packaging and processing of flowers to extend flowers life from 2-3 days to 15 days is an eye catcher and key for the success of Hoovu Fresh.

Flower delivery startup by Duo Sisters generates INR 8 cr tunrnover annually. Grabs INR 1 cr for 2% equity from Sharks

Recently the company raised INR 1 crore from Aman Gupta and Piyush Bansal in latest season of Shark Tank India. Founders Rhea and Yashoda explained their business completely and asked for INR 80 lakhs for 1 percent equity. But they ended up grabbing INR 1 core for 2 percent equity by Aman Gupta and Peyush Bansal, 50 lakhs each. In December 2022, the company has also raised INR 6.45 crore in a pre- series A funding round.

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