Floward, Kuwait based online flower and gifting platform raises $27million Series B investment. | MENA startups, innovation, and tech news

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Floward, Kuwait based online flower and gifting platform raises $27million Series B investment.
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Floward, Kuwait based online flower and gifting platform raises $27million Series B investment.

 Floward has raised $27.5 million in a Series B round led by STV, with participation from Impact46.
 The round takes total money raised to date by Floward to over $30 million.

Commenced in 2017 by serial entrepreneur and investor Abdulaziz B. Al Loughani, Floward sells top-quality fresh flowers along with gifts and other products from local and global brands. The startup that has been accelerating at a rapid pace currently conducts its services in 20 cities across the country and beyond, and the interesting thing is that it offers same-day delivery for all the orders. In December 2020 with the launch of its platform in London, it expanded to its first market outside the Middle East region.

Abdulaziz B. Al Loughani says that “we will continue to grow in existing markets and aspiring to set foot in multiple new cities in the next few months, in addition to starting two new markets. We will also seek organizational excellence going forward and enhance all internal processes and procedures in order to delight our customers with the best possible gifting experience.”

In a statement he said there is unprecedented traffic on eCommerce platforms due to Covid- 19quickened the growth of Floward and the startup grew 10x in 2020, In the first 100 days of 2021, their revenues have transcended those of the entire year of 2020. They have a clear expansion strategy that follows their own set of rules and ideas allowing them to smoothly and seamlessly expand to new markets with the aim to become a chief global player in the flowers and gifts industry, with a clear path to positive unit economics and profitability.

How Floward is unfolding the delightful fragrance to different parts of the region

Floward acquires flowers from different parts around the world to have them couriered through airplanes to their facilities twice every week, shoot the arrangements, and push them on their website and app. Along with its in-house designs, it also works with some eminent designers of the region to create different arrangements and partners with brands to complement its product mix with chocolates, Arabic sweets, cakes, and exotic perfumes.

Talking about the investment, Abdulaziz said, “Today marks an important milestone of our memorable journey at Floward. We want to partner with deep-rooted like-minded and hardworking entrepreneurs, innovative, determined, and bold movers that are willing to change the status quo. We are very proud to announce our partnership with STV joined with Impact46 and are quite confident that this partnership along with Floward’s team will help in marking ourselves as a global player in the flowers and gifts industry.”

On the other hand, STV announcing their investment in Floward in a blog post wrote, “Our excitement for Floward is inspired by the company’s commitment towards work and understanding of GCC consumer trends. Floward today is streaming into two such trends: The first is social gifting, which means focusing on both the gift giver and the recipients’ experience. The second is social commerce, by merging e-Commerce operations with social media platforms by having designers and influencers create their own set of designs and sell them on Floward, establishing an income source for their partners. Moving forward, Floward is destined to be an international advocate of social gifting.”

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