Join Ventures, a house of D2C brands for celebrations – IGP, Interflora, and Masqa, announced that it has secured USD 10 Million (INR 750 Million) in Series A round funding, from leading investors such as DSG Consumer Partners, Rajiv Dadlani Group, 9Unicorns and Venture Catalysts, an official statement highlighted.
The company’s statement also highlighted that they intend to use the funds raised to ensure consumer delight by expanding its captive dark stores network, tech advancements at the product level, and logistic improvements thus driving growth and scaling up the celebrations ecosystem it currently leads.
Join Ventures owns and operates a portfolio of digital-first brands across Fresh, Food, Home and Fashion categories, that serve the Indian Occasions’ Online Retail Market, which is expected to grow at 25% YoY to reach $90 Billion by 2025.
The brand’s portfolio currently includes IGP – India’s largest D2C platform for Occasions and Celebrations, Interflora – India’s largest D2C brand for premium flowers, IGP for Business – India’s leading B2B2C partner for Reward Management and Corporate Gifting, and Masqa – Creating India’s leading D2C brand for Indulgent Foods.
Currently, generating over 3 million orders per year, Join Ventures has over 500+ employees across its 25 locations in India and Singapore. Having a customer base in over 100 countries, Join Ventures recently expanded its large-scale warehousing facility at Jaipur by 50,000 square feet to strengthen its fulfillment infra of three mother warehouses and 24 dark stores.
Tarun Joshi, Founder & CEO, Join Ventures speaking on the announcement, said, “All trends show that consumers are bullish on celebrations landscape that is defined by the 140 million online buyers who are currently generating 4bn+ occasion led searches in India, and we aim to capture a large share of this underserved market with our superior ‘design to delivery’ consumer experience, robust supply chain and proprietary distribution network. The latest influx of funds will enable us to accelerate our growth and inch closer to our vision.”
Indians are increasingly going digital when it comes to shopping, which is widening the funnel for the serviceable addressable opportunity for Occasions Online Retail, as the same behaviour is translating into online shopping on occasions such as Birthdays, Wedding Anniversaries, National and Regional Festivals, various special days and a lot more. “We aim to launch new brands based on insights gathered from our existing portfolio to better serve the needs of flourishing Indian Households who consider occasions as rituals, happiness, a moment to bond and celebrate, and are increasingly turning online for quality products, personalisation and convenience,” Tarun added.
Join Ventures also plans to use the fresh funds for technological advancements at the product level and global supply chain and logistics improvements. The company had also recently announced its plans to bolster its logistic infrastructure through warehouse expansions with a vision of 1 million square feet by 2024 to support 120+ new dark stores across India.
