Homebusiness Newscompanies News

    D2C brand Join Ventures raises $23.5 million funding led by Motilal Oswal

    D2C brand Join Ventures raises $23.5 million funding led by Motilal Oswal

    D2C brand Join Ventures raises $23.5 million funding led by Motilal Oswal
    Read Time
    2 Min(s) Read
    Profile image

    By Sangam Singh   IST (Published)

    Mini

    Join Ventures aims to deliver best in class consumer experience through AI-enabled discovery and hyper-personalisation. The company 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 3 million.

    Join Ventures, which houses brands like IGP.com and Interflora India, has raised a $23.5mn (Rs 187 crore) in Series-B round, led by Motilal Oswal Alternate Investment Advisors Private Ltd.
    The round also saw participation by global beverage giant Pernod Ricard’s VC arm and existing investors DSG Consumer Partners, Venture Catalysts, ZNL Growth, Convivialite Ventures and HNI investors. The conglomerate has raised its second round this year, just after the company’s $10mn series-A round in February 2022.
    The company said that funds raised will be deployed to enhance technology and expand its captive dark stores network to drive the growth of its portfolio brands.
    Join Ventures aims to deliver best class consumer experience through AI-enabled discovery and hyper-personalisation. The company 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 3 million.
    Join Ventures is the frontrunner in the Indian Occasions' Online Retail market, which is expected to grow close to $90billion by 2025.
    "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," said Tarun Joshi, Founder & CEO, Join Ventures.
    Vijay Dhanuka, Director and Head of Consumer Sector at MO Alts said," Our investment in Joint Ventures marks our second investment into the tech-enabled consumer franchisees who have the first mover advantage in large unorganised categories."
    The company has grown its business by 3 times in the last 2 years to reach Rs 250 crore annualised revenue run-rate and has marked its presence in 100+ countries powered by three mother warehouses and over 40 dark stores.
    Led by Founder & CEO Tarun Joshi, Join Ventures owns and operates a portfolio of digital-first brands offering handmade, personalised and curated products across Fresh, Food, Home and Fashion categories. 
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

    Previous Article

    SoftBank cuts valuation of IPO-bound Oyo to $2.7 billion

    Next Article

    Gautam Adani's fortune fails to halt rout in his business group bonds

    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng