India’s first biomaterial startup raises $8 million

Direct-to-consumer (D2C) home fragrance and wellness brand has raised $8 million in a new round from consumer-focused venture fund, Sixth Sense Ventures. is a flower recycling technology firm founded in 2017 by engineering graduates Ankit Agarwal and Prateek Kumar. It makes proprietary organic fertiliser and charcoal-free premium incense items from flower waste gathered from temple garbage dumped in waterways.

Phool intends to use the funds raised to develop operations, seek untapped local and worldwide growth prospects, and establish India’s largest fragrance brand. It also intends to swiftly scale up its research and development activities to replace animal leather with Fleather, a vegan alternative to animal leather.