Alia Bhatt invests in IIT-K backed Phool.co
Start-up’s natural incense and faux leather catch actor’s fancy
LUCKNOW: Actor Alia Bhatt has invested in the IIT Kanpurbacked start-up Phool.co, which has pioneered in flowercycling technologies to use cellulose waste and specialises in manufacturing charcoal-free incense and other wellness products.
Phool.co, an IIT Kanpurbacked wellness start-up, announced that Bhatt is now an investor in the company, on Thursday.
Founded by engineering graduate Ankit Agarwal in July 2017, Phool.co is an innovative start-up focused on the circular economy which converts floral waste into charcoal-free luxury incense products and other wellness products.
Agarwal said, “The start-up is also India’s first wellness brand to have Fair for LifeFairtrade and Ecocert organic and natural certifications. With deep-tech research, the start-up has also developed ‘Fleather’ leveraging their flower-cycling technology. Fleather is a viable alternative to animal leather which was recently awarded PETA’s best innovation in the vegan world.”
He claimed that actor Alia Bhatt in a statement said, “Phool incense really stands out for its fine natural fragrances and amazing packaging. I admire the founder’s vision of making incense and bio-leather from recycled flowers that contribute to keeping our rivers clean, creating a humane alternative to leather and providing employment to women in India’s heartland. I’m proud that these products are created in India and wowing the world
and I’m thrilled to join the investors who are backing the company.”
IIT Kanpur had invested in and nurtured the company, while it was at the idea stage.
Speaking on the latest development, Prof Abhay Karandikar, director IIT Kanpur said, “I am indeed delighted to know that Phool has secured this funding. My heartiest congratulations to Ankit Agarwal, Founder & CEO, Phool and his team. Innovative flower-cycling technology by Phool has brought revolutionary changes. In addition to sustainable and eco-friendly waste flower management, it is helping the uplift of hundreds of women along the way. IIT Kanpur is proud to be the incubation partner of Phool.”
Agarwal said,“At Phool.co we aim to drive systemic change through innovation. Alia’s investment is a validation of our efforts and firmly sets us on a path to build a global success story from a tier 3 city.
The investment and support will help us expand our footprint globally and also step up the pace of RnD. I can proudly say, Phool.co is a business built, led and now even invested in by women.”