Total amount raised
$41.5 Million
Latest funding date
9/1/2022
Location
IGP has successfully completed five funding rounds, attracting investments from investors including 100Unicorns. The company specializes in offering a wide range of curated gifts, cakes, flowers, and personalized products for various occasions and festivals.
What Is IGP?
IGP, also known as Indian Gifts Portal, is a prominent player in the online gift delivery and e-commerce industry. Founded in 2000, the company is headquartered in Mumbai, Maharashtra, India. It offers a diverse range of curated gifts, cakes, flowers, and personalized products for various occasions and festivals.
With a significant employee base ranging from 1001 to 5000, IGP has established itself as India’s largest online gifting store. The company provides same-day delivery to over 400 cities in India and serves more than 500 million customers across 100+ countries, making it a one-stop shop for all gifting needs.
How Much Funding Has IGP Raised?
- Seed Round
- Amount Raised: USD 3,000,000
- Date: December 2017
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance branding and infrastructure.
- Angel Round
- Amount Raised: USD 2,000,000
- Date: October 2016
- Lead Investors: Naveen Arya, Tarun Joshi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and market entry.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: December 2020
- Lead Investors: 100Unicorns
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and market reach.
- Series A
- Amount Raised: USD 10,000,000
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's captive dark stores network and invest in technology and logistics.
- Series B
- Amount Raised: USD 23,500,000 (also reported as INR 187 crore)
- Date: September 2022
- Lead Investors: Motilal Oswal Alternate Investment Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology, expand its dark store network, and launch new products.
Total Amount Raised: USD 41,500,000. Current Valuation: Not publicly disclosed.
Key Investors
- Motilal Oswal Alternate Investment Advisors
- Details: Motilal Oswal Alternate Investment Advisors (MO Alts) is the alternative investments arm of Motilal Oswal Financial Services and led Join Ventures' (IGP's parent company) $23.5 million Series B round.
- Investment Focus Areas: Growth equity, consumer and D2C brands
- Notable Investments: Not publicly disclosed
- 100Unicorns
- Details: 100Unicorns is a venture capital firm that focuses on early-stage investments. They have a reputation for backing innovative startups with high growth potential.
- Investment Focus Areas: Technology, E-commerce, Fintech
- Notable Investments: Not publicly disclosed
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator that provides funding, mentorship, and network support to startups. They are known for their extensive network of investors and industry experts.
- Investment Focus Areas: Healthcare, Fintech, Consumer Services
- Notable Investments: Not publicly disclosed
- Naveen Arya
- Details: Naveen Arya is an angel investor with a focus on early-stage startups. He has a background in technology and business development.
- Investment Focus Areas: Technology, E-commerce, SaaS
- Notable Investments: Not publicly disclosed
- Tarun Joshi
- Details: Tarun Joshi is an experienced entrepreneur and angel investor. He has a strong track record of investing in high-growth startups.
- Investment Focus Areas: Retail, Technology, Consumer Goods
- Notable Investments: Not publicly disclosed
What's Next for IGP?
IGP has not publicly disclosed its next fundraising plans.
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