Thursday, September 29, 2022
HomeInsightFunding Alert Join Ventures raises $23.5 mn in Series B round

[Funding alert] Join Ventures raises $23.5 mn in Series B round

IGP.com, Interflora India, IGP for Business, and Masqa are just a few of the D2C businesses owned by Mumbai-based Join Ventures, which has secured $23.5 million (about Rs. 187 crore) in a Series B investment that was spearheaded by MO Alternate Investment Advisors Private Limited.

IGP.com, Interflora India, IGP for Business, and Masqa are just a few of the D2C businesses owned by Mumbai-based Join Ventures, which has secured $23.5 million (about Rs. 187 crore) in a Series B investment that was spearheaded by MO Alternate Investment Advisors Private Limited.

Convivialité Venture (the VC arm of French beverage giant Pernod Ricard), alongside existing investors such as DSG Consumer Partners, Venture Catalysts, ZNL Growth and other high net worth investors also participated in this funding round.

With the money, the startup will build its network of dark stores, which will help its portfolio companies grow. In the upcoming 18 months, Join Ventures will also use the financing to introduce new goods and product groups. Additionally, the money will be used to strengthen its technology sector so that it can support hyper-personalization across numerous platforms.

Read also – [Funding alert] Math-Learning Platform Bhanzu raises $15 mn in Series A funding

“Such a vast market size is driven by evolving Indian consumers who are looking beyond generic products and moving towards personalised, unique and theme-based products, and we believe that our curated & personalised design-to-delivery consumer experience fulfils their evolving needs. Partnering with MO Alts will help accelerate our expansion plans across India and beyond,” said Tarun Joshi, founder and CEO, Join Ventures .

Join Ventures is serving 100mn+ visitors every year across 100 countries with its design-to-delivery consumer experience, farm-to-table supply chain, and expanding same-day delivery distribution network of over 100 cities.

“As the country increasingly moves online, we believe digital channels will be a strong enabler for consumer businesses to scale at a rapid pace. Our investment in Join Ventures marks our second investment into the tech-enabled consumer franchisees who have the first mover advantage in large unorganised categories”, the head of consumer sector at MO Alts Vijay Dhanuka said.

Read also – [Funding alert] Esmito raises INR 10 Cr in Seed Funding

In the fresh, food, home, and fashion categories, Join Ventures owns and manages a portfolio of digital-first brands that offer handcrafted, individualised, and curated goods.

About Join Ventures

Join Ventures, house of D2C brands for celebrations, is building leadership through its growing portfolio of brands, including IGP.com – India’s largest D2C platform for occasions; Interflora India – India’s largest D2C brand for premium flowers; IGP for Business – leading B2B2C partner for reward management and corporate gifting; and Masqa-aimed at creating India’s leading D2C brand for Indulgent foods.

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