The company will use the money to expand its captive dark stores network, tech advancements at the product level, and logistic improvements, it said in a release.
The brand’s portfolio includes IGP, a D2C platform for occasions and celebrations; Interflora, a D2C brand for premium flowers; IGP for Business, a B2B2C partner for reward management and corporate gifting; and Masqa, a D2C brand for indulgent foods.
The company said it generates over three million orders a year, serving 25 locations across India and Singapore, and has customers in over 100 countries.
Join Ventures recently expanded its large-scale warehousing facility at Jaipur by 50,000 square feet to strengthen its fulfilment infra of three mother warehouses and 24 dark stores, the release said.
According to the company, Indians are increasingly going digital when it comes to shopping. This is widening the funnel for the serviceable addressable opportunity for occasions online retail as the same behaviour translates into online shopping on occasions such as birthdays, wedding anniversaries, national and regional festivals, various special days and a lot more.
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Join Ventures owns and operates a portfolio of digital-first brands across fresh food, home and fashion, which it expects to grow at 25% year-on-year and hit $90 billion by 2025.
