Every morning in India, temples come alive with chants, rituals, and devotion. One of the most common offerings? Flowers. Marigolds, roses, and jasmine are offered at the altar as a sacred gesture. But after the prayers, these same flowers meant to symbolize purity end up polluting India’s rivers, especially the Ganges, due to toxic pesticides and synthetic dyes.
In 2017, a quiet observation by Ankit Agarwal, a Kanpur-born engineer, sparked a sustainability revolution. During a stroll along the ghats of the Ganga, Ankit noticed heaps of discarded temple flowers floating in the holy river, mixing with industrial waste and choking aquatic life. The irony struck hard—how could offerings to the divine become environmental poison?
That day, Phool.co was born—not just as a brand, but as a movement to flowercycle India’s temple waste into something beautiful, sustainable, and scalable.
The Origin Story of Phool.co
Ankit Agarwal’s background is rooted in technology and social impact. A computer science graduate and former data scientist at Barclays, he had already worked on global development projects with the UN and the Bill & Melinda Gates Foundation.
But it was the contradiction of sacred waste polluting sacred waters that catalyzed a change in his life. He teamed up with his childhood friend Prateek Kumar and launched Kanpur Flowercycling Pvt. Ltd., with the goal to transform religious flower waste into high-impact, eco-conscious products.
Their biggest challenge wasn’t logistics but cultural. Convincing temple authorities and priests to give up sacred flowers meant navigating faith, trust, and tradition. But Ankit’s sincerity and mission-driven approach paid off. Slowly, temple partnerships formed across Uttar Pradesh and Bihar. This was the beginning of India’s first flowercycling ecosystem—Phool.co.
Phool’s Product Innovation: From Incense Sticks to Vegan Leather
Starting with a modest production unit, the startup launched charcoal-free incense sticks made from floral waste. The response was overwhelmingly positive—consumers were drawn to the natural fragrance and ethical sourcing.
Since then, it’s product portfolio has expanded into an impressive range of sustainable alternatives:
Charcoal-Free Incense & Cones – Their first and most loved product—crafted using real flower dust with no toxic chemicals or charcoal.
Havan Cups & Vermicompost – Biodegradable havan samagri and organic compost produced from flower pulp—perfect for households and organic farmers.
Natural Holi Colors – The brand introduced vibrant, skin-safe Holi powders free from synthetic dyes. Their #PhoolWaliHoli campaign evoked childhood nostalgia and environmental consciousness.
Bathing Bars & Loofahs – The brand recently launched handmade soaps under the “No Chemistry” line—vegan, chemical-free, and available in essential oil fragrances.
Florafoam – India’s first biodegradable alternative to thermocol, made from discarded flowers. It decomposes within 30 days, posing zero environmental risk.
Fleather (Vegan Leather) – Perhaps Phool.co’s most disruptive product, Fleather is a plant-based alternative to animal leather. It won the UN Young Leader Award and PETA’s Best Innovation in the Vegan World. With the fashion industry increasingly pivoting toward cruelty-free materials, Fleather has global potential.
All these products are developed at IIT Kanpur’s Startup Incubation & Innovation Centre (SIIC), where Phool.co operates its R&D labs.
It isn’t just a green company, it’s a social enterprise transforming lives at the grassroots. The company employs over 300 women, many from Dalit and marginalized communities, who were once engaged in manual scavenging.
Now known as “flowercyclers,” these women work in safe, hygienic environments and earn a steady income of ₹7,000–₹10,000 per month. They also receive financial literacy training, access to healthcare, and emotional counseling. For them, this isn’t just a job—it’s a pathway to dignity.
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Phool.co Funding and Financial Growth
Phool’s mission and model quickly attracted investors. Since inception, it has raised over ₹106 crore (~$13 million) across four funding rounds.
The startup began its funding journey with support from the Indian Angel Network and Social Alpha (TATA Trusts) during its early stages. In 2022, it secured ₹60.5 crore in a Series A round led by Sixth Sense Ventures, marking a major milestone in its growth trajectory. The brand also caught the attention of Bollywood actress Alia Bhatt, who invested in the company and now holds an estimated 2–3% stake. In mid-2024, Phool.co raised additional capital through a debt round to strengthen its R&D and manufacturing operations.
In terms of ownership, founder Ankit Agarwal retains a 28.4% stake in the company, while Sixth Sense Ventures holds the largest share at 29.9%. Indian Angel Network and Social Alpha collectively own around 18.3%. Alia Bhatt’s stake is approximately 3%, and the company has also allocated a 3.5% ESOP pool to incentivize and retain key talent.
Phool.co Revenue and Losses:
| Fiscal Year | Revenue | Net Loss | Total Expenses |
|---|---|---|---|
| FY 2023 | ₹28.6 crore | ₹3.6 crore | ₹32.1 crore |
| FY 2024 | ₹50 crore | ₹5.2 crore | ₹55.2 crore |
While losses increased due to raw material procurement and expansion, revenue jumped by over 75% YoY.
Future Plans for Phool.co
Phool’s next chapter includes global expansion and industrial-scale adoption of its biomaterials like Fleather and Florafoam. The brand is in active talks with international fashion houses and cosmetic companies for strategic partnerships.
Some upcoming goals include:
- Exporting Fleather to Europe and the US
- Setting up new processing units in Maharashtra and South India
- Expanding into eco-packaging for FMCG brands
- Achieving carbon neutrality by 2030
- Launching a D2C app to grow e-commerce sales
Ankit Agarwal’s vision is to make Phool.co the Tesla of sustainable materials—beautiful, scientific, scalable, and socially inclusive.
The startup isn’t just solving a waste problem, it’s redefining what innovation looks like in India. It operates at the intersection of culture, sustainability, and design. From flower to product, from riverbank to retail shelf, from pollution to progress—Phool is proving that India can lead the way in circular economy solutions.
In a world struggling with climate anxiety, greenwashing, and cultural disconnect, Phool.co is the real deal. Born on the ghats of Kanpur and blossomed through innovation, it stands as a beacon of what conscious entrepreneurship can achieve.
FAQs
Who is the founder of Phool.co?
Phool.co was founded by Ankit Agarwal in 2017. He is a Kanpur-based engineer and social entrepreneur.
What is Fleather by Phool.co?
Fleather is Phool.co’s plant-based, cruelty-free alternative to animal leather, made from recycled flower waste. It’s designed for use in fashion, accessories, and upholstery.
Where is Phool.co based?
Phool.co is headquartered in Kanpur, Uttar Pradesh, India.
Has Phool.co received funding?
Yes. Phool.co has raised over ₹106 crore (~$13 million) in funding from investors such as Sixth Sense Ventures, Indian Angel Network, Tata Trusts, and celebrity investor Alia Bhatt.
Where can I buy Phool.co products?
Phool.co products are available on their official website www.phool.co and major e-commerce platforms like Amazon and Flipkart.
How much floral waste has Phool.co recycled so far?
As of 2025, Phool.co has recycled over 11,000 metric tonnes of temple flower waste.
Does Phool.co operate only in Kanpur?
While Phool.co started in Kanpur, it now works with temples in multiple cities including Ayodhya, Varanasi, Bodh Gaya, and Badrinath.