Hoovu Fresh (Shark Tank) Startup, Flowers, Funding, Date of Establishment, website and more.
Hoovu Fresh is an innovative floral startup founded by two sisters Yeshoda Karuturi and Rhea Karuturi in 2019. Recently, the founders appeared in the famous reality show The Shark Tank India where they pitched there idea to investors like Aman Gupta, Piyush Bansal, etc. The idea was to make an effective supplying chain of flowers which will remain fresh for longer period of time and can be cost effective too.
She raised the fund of 10 million by the two sharks Aman Gupta and Peyush Bansal.
|Company Name||Hoovu fresh|
|Date of Establishment||2019|
Grew under the shadow of their father around the floriculture farms in the 90’s both the sisters Yeshoda Karuturi and Rhea Karuturi were learning and gaining the insights of the floral farming and how the industry went through the complete change in the market of flowers.
Initially,they worked in the rose farm of their father.They both were exploring the supplying chains and the strategies in the floral industry which was not organized and felt need to bring a change in that. The supplying patterns were not uptight which was resulting in degrading the quality of the flowers and so much of wastage of land and money.
ABOUT THE FOUNDERS
Yeshoda karuturi has gained her education from the International School of Bangalore and got a bachelor’s degree in economics and accounting from The Hong Kong University of Science and Technology. After completing the master’s in accounting, she worked as social media intern, business analyst intern to gain some experience. In 2021,they also founded Sahagya foundation while working as the chief executive officer and co-founder of Hoovu fresh.
Rhea karuturi, the other co-founder of Hoovu Fresh has the bachelor’s degree in science,technology and society, Communication and media concentration. She had also worked as a writer in various firms including Times of India and honoured with the award of introductory seminar excellence award for excellence in writing by Stanford University.
Idea and the pitch
As both of these sisters notices that the supplying chain has so many defects and by the end of the times flowers get degrade when reached to their customers as it involves a long process after the harvesting of the flowers. Growing among the floral farms considering the spirituality and the sacred values these authentic flowers hold in the Indian household during the pooja’s and other sacred causes . They both wanted to make sure that flowers don’t lose out their essence and freshness. So they come up with the idea of developing a supplying chain which can increase the shelf life of the flowers from 2-3 days to 15 days by proper house machinery packaging with the right sanitation techniques and the most important is reducing the time of supply to the customers.
Having direct tie-ups with farmers to collect the flowers as soon as they are collected and distributing through various channels such as online platforms.Recently, they pitched their ideain the reality show the Shark Tank India,having the monthly sales about Rs. 60-65 lakhs. They also make other products such as Agarbatti and Screensavers. Variety of flower’s range starts from Rs. 40.
The co-founder of the boAt Lifestyle, Aman Gupta and the founder of lenskart.com, Peyush Bansal secured the funding of Rs. 1 crore for the Hoovu Fresh. Currently, the limelight on the floral world is upon them and they sure wanted to make the most of it.