Join Ventures, which is a direct-to-consumer ecommerce platform focused on celebration items like flowers with brands such as IGP, Interflora, and Masqa, has raised $10 million (over Rs 75 crore) in Series-A funding from leading investors.
The investors who on-boarded the startup include DSG Consumer Partners, the Rajiv Dadlani Group, 9Unicorns and Venture Catalysts, the city-based startup launched in January 2021 by Tarun Joshi said.
Join Ventures, which is into celebrations with its IGP.com that's a platform for occasions; Interflora that sells premium flowers; and Masqa that promotes indulgent foods, said it will use the fund to tech upgrades and to improve supply chain and logistics and to expand its warehouses.
It claims to have over 100 million visitors and offers same-day delivery in over 100 cities and generates over 3 million orders per year, founder and chief executive Tarun Joshi said in a statement on Tuesday.
Join Ventures owns and operates a portfolio of digital-first brands across fresh flowers, food, home and fashion categories, which are expected to grow at 25 per cent annually through 2025 and reach $90 billion.
Join Ventures has over 500 employees across its 25 locations in India and Singapore and has its main warehouse in Jaipur, he said.
(With inputs from PTI)