Baltimore Investment News

DC Flower Startup UrbanStems Takes Investment From Under Armour’s Kevin Plank

kevinplank DC Flower Startup UrbanStems Takes Investment From Under Armour's Kevin PlankWhen you think Under Armour you think sweaty, professional athletes. You think brute force. You think men and women from all ends of the athletic spectrum. You don’t think flowers. So should it surprise you that Under Armor founder and CEO Kevin Plank has made an investment in a flower delivery startup?

Well to tell you the truth no.

Since Plank’s founding of Under Armour in his grandmother’s DC area row house, to the billion dollar mega power house company it is today in Baltimore, Plank has always stayed in touch and true to the startup communities in the Mid Atlantic region.

Plank has been very active with Startup America, Startup Maryland and even helping those in office in Annapolis understand the needs for startups in the economy and the role they play.

According to the Baltimore Business Journal, UrbanStems buys dehydrated flowers from Colombia and Ecuador and rehydrates them for local delivery. In the markets they serve (right now the DC metro area and New York) they’re like the Uber of flower delivery and guarantee delivery within 2 hours. The also make it extremely easy for the user by offering just three bouquet options at $35, $45, and $55. No fuss, just easy flower ordering for today’s busy professional (and millennial).

Plank’s Sagamore Ventures participated in an oversubscribed seed round of $1.5 million dollars. Founders Jeff Sheely and Ajay Kori set out to raise $1 million dollars and are now “well over capitalized” they told Baltimore Business Journal’s Kasra Kangarloo.

“The urban consumer market is experiencing a tremendous amount of disruption,” Sagamore Ventures Managing Partner Demian Costa said in a statement. “Higher quality for a lower price, and on-demand service is becoming the standard, not the exception.”

In June Plank via Sagamore Ventures, invested in Baltimore based Red Owl Analytics.