Get All Access for $5/mo

Join Ventures Raises $23.5 Million in Series B Funding Round Funds will be utilized to enhance technology and expand its captive dark stores' network to drive the growth of its portfolio brands

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Join Ventures on Thursday announced to have raised $23.5 million in a Series B funding round led by MO Alternate Investment Advisors. The round also witnessed participation by Convivialité Ventures, Pernod Ricard's VC arm and existing investors DSG Consumer Partners, Venture Catalysts, ZNL Growth and HNI investors. Funds will be utilized to enhance technology and expand its captive dark stores' network to drive the growth of its portfolio brands.

"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. Partnering with MO Alts will help accelerate our expansion plans across India and beyond," said Tarun Joshi, founder and CEO, Join Ventures.

"Join Ventures is a young company, and Tarun and his team have shown exceptional execution capabilities by scaling the brand in such a short time span. As the country increasingly moves online, we believe digital channels will be a strong enabler for consumer businesses to scale at a rapid pace. Our investment in Join Ventures marks our second investment into the tech-enabled consumer franchisees that have the first mover advantage in large unorganised categories," said Vijay Dhanuka, director and head of consumer sector, MO Alts.

Join Ventures has successfully grown its business by three times in the last 2 years to reach INR 250 crore annualised revenue run-rate. The company currently services customers in over 100 countries through its extensive same-day delivery network powered by three mother warehouses and 40-plus dark stores. Led by founder and 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. Join Ventures house of brands include IGP - India's largest D2C brand for celebrations, Interflora - India's largest D2C brand for premium flowers, IGP for Business - India's leading B2B2C partner for reward management and corporate Gifting and Masqa - D2C brand for indulgent foods. The conglomerate has raised its second round this year, just after the company's $10 million Series A round in February 2022. The company 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.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Growth Strategies

Can NEET Exam Be Manipulated? What We Know So Far

Around 1500 students from six centres complained that they were not given the full time for completing the exam, because of various reasons including distribution of the wrong question paper, torn OMR sheets, technical glitches, and delay in distribution of the OMR sheets.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Battery Smart Raises USD 65 Mn in Series B to Boost EV Battery Swapping Network

Orios Venture Partners achieves a 29x return with a strategic partial exit from Delhi-based EV startup, enhancing early-stage investment success.

Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.