Gifting platform Ferns N Petals Private Limited (FnP) has raised $27 million (Rs 200 crore) from Lighthouse India Fund III, per an announcement.
FnP offers over 40,000 products across various categories, such as cakes, flowers, plants, chocolates, and personalised merchandise. The platform claims to serve more than 2 million customers annually.
“With this fundraising, we plan to invest in improving our systems and technology to ensure a superlative customer experience for all gifting occasions,” said Pawan Gadia, CEO, retail & online at Ferns N Petals India, GCC & APAC Regions.
The company operates through a network of more than 400 franchised FnP stores across India, serving 99% of the Indian pin codes. Beyond India, the company has on-ground operations in the UAE, Singapore, and Qatar and plans to further expand into Saudi Arabia, Malaysia, Indonesia, the Philippines, and the UK soon.
The company claims to have maintained a 40%+ growth rate and expects a turnover of nearly Rs 600 crore in the current financial year.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced between March 8 and 14, 2022.
