London based flower delivery platform Floom, the tech-enabled marketplace for the florists has secured a $2.5 million capital in seed financing. Firstminute Capital, an early-stage investment firm led the round which saw participation from New Look founder Tom Singh, The Hut Group CTO Wing Chan, former Just Eat CTO Carlos Morgado and VC firm Pembroke VCT.
The company plans to utilize the fresh capital to expand their presence in the US. It currently operates in the UK along with the US cities, New York and Los Angeles. Floom has also planned their entry in another country soon. However, they did not name the location they plan to enter as yet.
Started in 2016 by Lana Elie, the firm delivers the orders on the same day. Through the marketplace of the company, independent flower shops can sell their bouquets online. The florists have a dashboard where they can create, manage and allocate inventory based on their capacity. The dashboard is managed by Floom's backend technology. The florists and the customers can track their orders as well through the software.
Carlos Morgado, the Just Eat CTO who is set to join the board of firm as part of the deal commenting on the collaboration said, “I’m really looking forward to joining the board and working alongside Floom’s passionate team. Like them, I think floristry has huge digital potential, particularly as it’s a largely traditional marketplace. Floom is creating technology that perfectly complements the creative focus of independent florists, so I’m excited to be part of their transformation journey. I’m looking forward to finding another unicorn, this time among flowers.”
Elie, the CEO of the firm commenting on the investment said, “Achieving this seed funding is a huge achievement for us, and we’re delighted to get backing from so many experts in building tech-backed lifestyle brands."
Image Courtesy : floom