House Of D2C Brands Join Ventures Raises $23.5 Million In Series B Funding
Join Ventures, a Mumbai-based house of D2C brands, has raised $23.5 million (Rs 187 crore) in a Series B funding round led by MO Alternate Investment Advisors Private Limited.
Convivialité Ventures, global beverage giant Pernod Ricard’s VC arm, and existing investors DSG Consumer Partners, Venture Catalysts, ZNL Growth, and HNI investors also participated in the funding round.
As per the firm, the freshly raised funds will be deployed to enhance technology and expand its captive dark store network to drive the growth of its portfolio brands. Join Ventures also plans to use the funds to launch new products and categories in the next 18 months based on the insights gathered from its existing customer base of over three million.
Join Ventures | Building A D2C Ecosystem
Founded by Tarun Joshi, Join Ventures is a Mumbai-based house of D2C brands for celebrations. It owns and operates a portfolio of digital-first brands offering handmade, personalised and curated products across fresh, food, home and fashion categories.
Speaking about the development, Tarun Joshi, Founder and CEO of Join Ventures, said,
“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 and personalised design-to-delivery consumer experience fulfils their evolving needs.”
The firm is building a Direct to Consumer ecosystem and claims to be the frontrunner in the Indian occasions’ online retail market, which is expected to grow to around $90 billion by 2025.
Its portfolio includes IGP.com – India’s largest D2C platform for occasions; Interflora India – India’s largest D2C brand for premium flowers; IGPforBusiness – leading B2B2C partner for reward management and corporate gifting; and Masqa-aimed at creating India’s leading D2C brand for Indulgent foods.
The firm has grown its business by 3X in the last two years to reach Rs 250 crore ARR (annualised revenue run-rate). Currently, it 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.