Diversified conglomerate Yamasa has invested $30m in US-based online florist The Bouqs Company, TechCrunch has reported.
Founded in 2012, The Bouqs operates an online platform that offers cut-to-order flowers for same-day delivery, sourcing its stock directly from farmers rather than through a middleman, enabling it to shave costs and provide flowers that theoretically last for longer.
The company will use the funding to move further into offering its flowers through brick-and-mortar stores in addition to increasing targeting the wedding industry. It also intends to expand into Yamasa’s home country of Japan with the corporate’s help.
John Tabis, founder and CEO of The Bouqs, said: “This financing will enable us to fully realise our vision to create a global network of top-quality farms paired with a category-defining local floral brand enabled by proprietary supply chain technology and vertically integrated sourcing capabilities.
“We are so excited for this next phase of the business, and all of the opportunities that lie ahead.”
Yamasa’s investment follows a $24m series C round led by Partech Ventures and backed by NextEquity Partners, Reimagined Ventures, Azure Capital Partners, KEC Ventures, Quest Venture Partners and private investor Robert Herjavec in 2017.
Quest Venture Partners, Azure Capital Partners and KEC Ventures had previously joined Enspire Capital and Draper Associates in the company’s $12m series B round the previous year.
Azure Capital Partners led a $6m series A round that closed in 2014 with backing from KEC Ventures, following $1.1m in seed capital from Quest Venture Partners, Wavemaker Partners (then called Siemer Ventures) and assorted angel investors the year before.
Photo courtesy of The Bouqs Company.
