The funding will be used by IGP.com to enhance its supply chain infrastructure and branding activities. In a previous funding round which took place in 2016, IGP.com had raised USD 2 million from angel investors.
"We are very excited to have Venture Catalysts as our investor and partner in this journey and look forward to the mentorship they can provide us to unlock further possibilities in this promising domain," Tarun Joshi, co-founder and CEO,IGP.com said emphasizing that gifting has emerged as a category with massive potential and great consumer demand.
Dr.Apoorv Ranjan Sharma, co-founder and president, Venture Catalysts also stated that the decision to invest in IGP.com was taken based on the fact that the company has massively scaled its business and established its presence not only in the Indian market but internationally as well in a very short period of time.
IGP has a business model which spans a whole range of gifting solutions, from recommending the right gifts on its discovery platform IGP.com to fulfilling packaged gifts from its own warehouses and partners. (ANI)