Mumbai, Nov. 5 -- Lighthouse Funds-backed gifting platform Ferns N Petals (FNP) is in early talks to raise up to $40 million from new investors and has appointed Ambit Capital to help with the fundraise, two people familiar with the matter said.

"The deal was soft launched about two weeks back and the talks are still in early stages," one of the two people cited above said.

"The company is already seeing interest from new investors and the round is likely to give FNP a valuation boost," the second person said, adding that this will likely be the company's last private round before it plans for a public listing in the next 24-36 months.

If the deal materialises, the funds will be used to expand FNP's footprint and strengthen product lin...