Thrasio-styled venture UpScalio invests in home, gardening brand Truphe

Thrasio-styled venture UpScalio has invested in Truphe, an NCR-based home and gardening brand. Truphe is a manufacturer and distributor of gardening tools, seeds, planters and other accessories. The financial details of the investment were not disclosed.

Honey Gupta started Truphe in 2015. The brand has seen immense growth in the last few years, riding on the spike in customer interest in gardening, said the company.

Saaim Khan, co-founder and COO, UpScalio, said, “The Home & Gardening category in India has quickly grown to become a $900 million space, and we plan to capture a large chunk of it with Truphe. Honey has done a great job of catering to the passionate community of hobbyists that use Truphe’s products and we’re thrilled to partner with him to grow Truphe exponentially.”

UpScalio plans to work on key levers including inventory regionalisation, sourcing, and brand marketing to scale the brand. Truphe has been well received on marketplaces such as Amazon and Flipkart, and UpScalio will leverage the existing presence to grow the brand to a Rs 50 crore ARR in 1-2 years.

Honey Gupta, founder, Truphe, said, “In addition to operational expertise, I needed to partner with someone who understood the human side of the work we do. UpScalio checked both of those boxes for us, and I firmly believe that their strategy for expanding Truphe will realise all of our shared goals.”

This is UpScalio’s ninth investment since its inception in June 2021. The roll-up e-commerce company has had an incredible year, recording over Rs 210 crore in annualised revenue. The company plans to acquire 5 more brands by the end of FY21, and is projecting a consolidated revenue run rate of Rs 750 crore for the same period.