UrbanStems, a Washington, D.C.-based on-demand flower delivery service, closed a $6.8m Series A funding.
The round was led by SWaN & Legend Venture Partners with participation from Middleland Capital, NextGen Venture Partners, Interplay Ventures, and Sagamore Ventures.
The company intends to use the funds to accelerate growth in New York City and Washington, D.C., and to expand to other major cities in the US, starting with Philadelphia and Baltimore.
Led by Ajay Kori, UrbanStems aims to combat typical industry issues such as dead flowers, late arrivals, and crazy-high prices via an on-demand flower delivery service that allows customers to send seasonal bouquets hand-delivered by bike messengers within one hour.
The company, which designs its bouquets in-house and works directly with Rainforest Alliance Certified™ farms, leverages a vertically-integrated supply chain to reduce waste and eliminate unnecessary costs.
FinSMEs
26/04/2016