Phool.co is an Indian social enterprise founded in 2015 by Ankit Agarwal and Prateek Kumar in Kanpur. Its main activity is the collection and transformation of floral waste from religious temples, which would otherwise end up polluting the Ganges River, into consumer products such as charcoal-free incense, vegan leather, and biodegradable packaging

Welcome to the joy and color of one of the most beautiful climate solution initiatives ever seen: Phool.co, a company that combines a circular economy model with a strong social impact component, employing mainly women from marginalized communities.

The idea arose in 2015 when Ankit Agarwal, a software engineer, was walking along the banks of the Ganges in Kanpur. He observed that the flowers offered in temples, laden with pesticides and dyes, were being thrown into the river, contributing to its pollution. Together with his childhood friend, Prateek Kumar, he decided to seek a solution to this problem. After experimenting with composting, which failed due to the chemicals present in the flowers, they developed a process to convert floral waste into incense.

PHOOL, HINDI FOR "FLOWER"

Phool's value proposition is twofold. On the one hand, it offers an environmental solution to a large-scale problem: river pollution from floral waste. On the other hand, it creates high-quality products with a positive impact story, attracting conscious consumers.

Phool's flagship product is charcoal-free incense. Unlike conventional incense, which often contains charcoal and can release harmful chemicals when burned, Phool's is made from discarded flowers and natural essential oils. The process, called "flowercycling," begins with the collection of flowers from temples in cities such as Kanpur, Varanasi, Ayodhya, and Bodh Gaya. Then, the flowers are transported to the company's facilities, where they are separated from threads, plastics, and other waste. Afterward, the petals are dried in the sun, ground into a fine powder, and mixed with water and essential oils to form a paste. Finally, this paste is hand-rolled to create the incense sticks.

INCENSE AND AN ALTERNATIVE TO ANIMAL LEATHER

In addition to incense, Phool has diversified its product line. One of its most notable innovations is Fleather, a biomaterial that serves as an alternative to animal leather. This material was discovered accidentally when observing a fibrous layer that formed on the leftover floral waste from the incense manufacturing process. Fleather has attracted the attention of the fashion industry and was recognized by People for the Ethical Treatment of Animals (PETA) as one of the best innovations in the vegan world in 2020. The company also produces Florafoam, a biodegradable packaging material designed to replace polystyrene (Styrofoam), as well as essential oils and aromatic candles.

Phool operates under a hybrid business model that combines direct-to-consumer (D2C) sales with strategic corporate partnerships. Its products are sold through its website and e-commerce platforms. The company has managed to position itself in the premium segment of the home fragrance market, with prices significantly higher than those of traditional incense.

EMPLOYMENT FOR MORE THAN 300 WOMEN

Social impact is a fundamental part of Phool's DNA. The company employs more than 300 women from marginalized communities, many of whom previously worked as manual waste pickers, a highly hazardous and stigmatized form of work in India. Phool offers them dignified employment, a salary increase of around 30%, health insurance, and the opportunity to learn a trade.

The company recycles more than 11 tons of floral waste from temples every day, keeping it out of the Ganges. To date, it has recycled more than 22,000 tons of flowers. By replacing charcoal in incense manufacturing, it also prevents the release of harmful chemicals such as sulfur dioxide and xylene.

Phool has signed memorandums of understanding with important temples such as the Ram temple in Ayodhya and the Kashi Vishwanath temple in Varanasi to ensure a constant supply of floral waste. The company is also in the process of separating its biomaterials business, Fleather, into an independent entity, which will allow it to focus on scaling this innovative leather alternative.

PUBLIC INFORMATION ON FUNDING ROUNDS

Available data indicates that the company has raised a total of approximately $9.4 million to $12.7 million across several rounds.

Phool's main and best-known funding round was its Series A, announced on April 4, 2022.

• Amount raised: $8 million (approximately INR 605 million, or INR 60.5 crore).

• Lead investor: Sixth Sense Ventures, a venture capital fund based in India. Other participants in the round included Bollywood actress Alia Bhatt and the IAN Fund (Indian Angel Network).

• The round reportedly valued Phool at approximately $23.21 million at that time.

Before its Series A, Phool had already raised funding in earlier stages:

• Pre-Series A Round (August 2020): The company raised 1.4 million dollars (approximately 10.3 crore rupees). Investors in this round included IAN Fund, the Draper Richards Kaplan Foundation (based in San Francisco), and Social Alpha (FISE), an initiative of Tata Trusts.

• Alia Bhatt's investment (2021): In October 2021, actress Alia Bhatt made an investment for an undisclosed amount, before her participation in the Series A. According to capital structure reports, her cumulative investment as of 2025 amounted to more than $257,000.

• Seed rounds and grants: Records indicate that Phool also received a grant in May 2023 for an undisclosed amount, and had previously received non-dilutive support in 2019. One source mentions an initial seed round in 2017 and another $2 million round in 2020.