Ferns N Petals has announced that Lighthouse India Fund III has invested Rs 200 crore ($ 27 million) in the gifting platform.

With the latest funding, the company plans to use the funds to invest in hiring and improving its systems and technology to enhance customer experience for all gifting occasions, as per the company’s statement.

Lighthouse Advisors Founding Partner Sachin Bhartiya has said that gifting is a large but highly fragmented market in India. Online gifting has hardly scratched the surface and has huge headroom to grow, with digital tailwinds supporting such growth.

"FnP has all the required ingredients, including leading brand recall, its extensive supply chain network, a robust tech stack, and a seasoned management team, to capture a large share of this growth," he added.

The company, which operates through a network of over 400 franchised stores across India, also has operations in the UAE, Singapore, and Qatar and plans to further expand into Saudi Arabia, Malaysia, Indonesia, the Philippines and the UK soon.

FnP Founder & Managing Director Vikaas Gutgutia said on the funding, "We are very excited to partner with Lighthouse and look forward to learning from their deep consumer insights, developed through a focused investment approach."