In the most recent episode of Shark Tank India, Aman Gupta, and Peyush Bansal promised Rs 10 million to Hoovu Fresh Flowers, a fresh flower delivery platform that offers fresh flowers and incense sticks. Sounds like a simple idea, but how are they making Rs 8 crore annually with flowers?
Shark Tank India was where Rhea and Yashoda presented their enterprise and requested Rs 80 lakh for a 1% equity stake. Aman Gupta and Peyush Bansal countered with an offer of Rs 1 crore for 2% equity at a valuation of Rs 50 crores.
Hoovu Fresh Flowers – A New Age To The Traditional Pooja
Wouldn’t it be advantageous if fresh flowers could be delivered to homes in the same way that milk packets or morning newspapers are? Rhea Karuturi and Yeshoda, two sisters, were inspired by this thought and decided to find out the scope of the flower industry in the market.
Through their startup, Hoovu, meaning “flowers” in Kannada, they introduced a flower delivery system to the customer’s doorstep.
The sisters also tried to introduce a subscription model of delivery in an effort to give a modern touch to the existing traditional market of flowers.
The brand is accessible through a variety of delivery services, including BigBasket, Zepto, and Swiggy among others.
By using technology and shortening the supply chain, the platform aims to deliver fresh flowers. Rhea Karuturi and Yeshodai’s startup Hoovu Fresh Flowers was founded in 2019 and has since expanded to over 8 cities, completing over 2 million orders while working with over 300 temples and 500 farmers.
This fresh flower startup based in Bengaluru has an annual revenue of Rs 8 crore. With just Rs10 lakhs of initial investment, the sister duo started this innovative idea, and with the help of some foresighted investors, the company made a name for itself in no time.
To buy Hoovu products, you can visit their Amazon Store.
Bed Of Roses, Like Really!
Both sisters had a strong connection with flowers and the flower industry. The father of Rhea and Yeshodai owns huge rose fields in Kenya, India, and Ethiopia. Growing up in a family that owns a flower business, both of them had in-depth knowledge of the industry.
In the 1990s, the Kenyan farm was named the largest rose farm in the world. As a result, the sisters grew up seeing how the cut flower business evolved over time.
While closely observing the cut flower industry as it grew in their own fields, they noticed that, while the bouquet flower market had significant global potential, flowers in Indian households met a very specific need and were struggling for growth.
The girls observed that the traditional puja flower market was far behind in its deserved growth. They somewhere realized that it was due to the fact that the flower bouquet market was organized, and that is why it was flourishing.
While the market for traditional flowers in India had a significant disadvantage—the flowers lose their freshness by the time they reach the end user.
With the fact that traditional flowers in India are used for various reasons like hair accessories, home decor, car decor, etc their growth is still under utilised.
They observed that the supply chain in the traditional flower industry is still incredibly disorganized and fragmented, and there is a significant waste. After being harvested, the flowers are supplied through a number of handling stages, and by the time they are delivered to the customer, they end up losing their freshness.
Store It All – Source It Directly
After pulling in enough research and utilizing the right technology the sisters have managed to find a way to solve the problem. Hoovo fresh flowers partnered with around 50 farmers directly and created a platform that will solve the problem of flowers losing their freshness.
The turnaround time has been shortened to 12 to 24 hours thanks to our direct relationships with farmers, says Rhea, a Stanford University alumna.
After being purchased, the flowers are cleaned to remove all moisture and bacteria. The flowers’ shelf life is then increased from 3 days to roughly 15 days through a quality packing procedure, keeping them fresh for a longer period of time.
Hoovu Fresh Flowers offers a variety of goods, including loose flowers, garlands, and various greens like darbha (halfa grass) and tulsi (holy basil). In addition to the subscription model, their products are also offered on a number of other websites, including Big Basket, Grofers, Zomato, Supr Daily, Zepto. Milkbasket and FTH Daily.
From cities like Bengaluru, Hyderabad, Mysore, Chennai, Mumbai, Pune, Noida, and Gurugram, they are getting more than 150,000 orders each month. They introduced one more product, The agarbattis (incense sticks) last year, resulting in a good market hold of this product as well.
Hoovu Fresh Flowers has increased its offerings to temples over the past 12 months.
Among many other temples, Team Hoovu Fresh Flowers is in charge of decorating the ISKCON temple in Bangalore. Customers can purchase assorted roses, assorted puja flowers, and green mixes from Hoovu Fresh Flowers either as individual boxes or by subscribing to their monthly deliveries.
They also offer unique packages with unique flowers for festivals, puja essentials, and other occasions. Because it contains auspicious greens like gharke, bil patre, and tulsi that people use for their special pujas, their assorted flowers plus greens package is very well-liked. Their hand-rolled rose petal mola, which is a customer favorite, is made by rolling rose petals into a garland.
With the support of sharks, it is clear that this creative idea will lead to even greater growth and success. A unique concept, smart technology, and the sister duo’s clear vision have led to the tremendous growth of the startup Hoovu Fresh Flowers. Team Mad4India wishes massive growth for Hoovu Fresh Flowers.
To buy Hoovu products, you can visit their Amazon Store.
Feature Image – Instagram
If you loved reading this story, you can also check One Innovation At A Time! Meet The Couple Who Recycles 10000 Tonnes of Waste Every Month.
If you know more inspirational stories about any person, company, new idea, or social initiative, write to us on mad4india.com, or share such information with us on Instagram, Facebook or LinkedIn.