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Kyari, a D2C (Direct-to-Consumer) brand based in Indore, recently announced the closure of a pre-Series A funding round, raising Rs 6.5 crore.
The round was led by Agra Gwalior Pathways and Airen Holdings, with participation from Amit Kumat from Prataap Snacks, Rajesh Patel from Apricot Foods, Sawan Laddha from Workie, We Founder Circle (WFC), IVY League Ventures and JITO, with financial assistance facilitated by Colonel Consultancy.
Expanding brand presence
The funding will help the startup expand its presence and diversify its category under its umbrella brand, Select Brands.
Agam Choudhary, co-founder of Kyari, said, “Kyari intends to allocate nearly 70% of the raised capital towards amplifying its brand presence and fostering growth initiatives. Additionally, approximately 30% of the funding will be allocated to the introduction of new brands under the Select Brands’ portfolio.”
Offering products through D2C platform
Co-founded in 2022 by brothers Agam Choudhary and Saksham Jain, Kyari offers a diverse array of home-grown plants and planters through its D2C platform.
"The backing of our esteemed investors not only validates our vision but also empowers us to chart new horizons and unlock the full potential of our brand," remarked co-founder, Agam Choudhary
Focused on driving innovation
The startup, which is focused on driving innovation and fostering sustainable growth, will also add a variety of products, such as aesthetic self-watering pots, plant foods, outdoor plants, and plant accessories, the release notes.
It aims to surpass Rs 40 crore in sales in the upcoming fiscal year- 2025, fueled by strategic investments in website optimization, product diversification, and market expansion initiatives.
Gardening is a Rs 6,400 crore market. The online market comprises approximately Rs 400 crore. The brand’s goal is to capture a 10-12% online market share by the end of this fiscal year (2024-25), the startup said in a statement.