The Hindu Business Line
Gifting platform FlowerAura in talks to raise $15 million
Gurgaon-based e-commerce platform FlowerAura is in talks to raise $15 million to scale up its operations across the country and deliver personalised gifting experiences to its customers.
The bootstrapped company, founded in 2010 by Himanshu Chawla and Shrey Sehgal with an initial investment of ₹3 lakh, delivered 7 lakh orders in FY 2018 at an average order value of ₹800 and ended fiscal 2019 with a revenue of ₹55 crore.
“We are a profitable company and will invest ₹3.5 crore this fiscal to ramp up our Fulfilment Centre count to 40 from 22 that we have in eight metros to deliver the right product at the right time. Our biggest gifting category is flowers followed by cakes, personalised gifts and plants, which we introduced recently,” Himanshu Chawla, co-founder and director, told BusinessLine.
Demand on FlowerAura.com has grown from 4.5 lakh Himanshu Chawla, Co-founder and Director, FlowerAura
orders in FY 2018 to seven lakh in FY 2019 from not only the top ten cities but also 180 other cities across the country, Chawla said “We are expecting to grow revenue three times this fiscal and touch ₹150 crore and double that in 2021. We are also in talks to raise $15 million to scale operations beyond metros to Tier-2 and -3 cities which currently contribute to 35 per cent of our overall business.”
The total size of the Indian corporate and personal gifting market has exceeded ₹250,000 crore in 2017 as per a study by Technopak.