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IGP (e-gifting retailer)
Indian multinational e-commerce company From Wikipedia, the free encyclopedia
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IGP is an India-based online retailer of personalized, floral, gourmet, and handmade gifting products, as well as a distribution company, founded by Tarun Joshi in 2017.[2] The company is headquartered in Mumbai, India, and operates in India, Singapore and UAE. [3][4][5]
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History
IGP was founded in 1999 and acquired by Indian entrepreneur and investor Tarun Joshi in 2012.[6][7][8] In 2015, the company acquired ArtisanGilt, an e-commerce portal for ethnic wear and fashion jewellery.[9]
In 2017, the company launched an online gift discovery platform that provides context-based search allowing users to discover a particular gift, based on parameters such as recipient, relationship, occasion and personality. It is India's first gift discovery platform according to Business Standard.[10] In February 2024, the company launched its new retail store in Bandra West, Vashi, & Breach Candy.[11][12]
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Partnership
In October 2017, Interflora, a global flower delivery network opened its first office in Mumbai in partnership with IGP.[13] In July 2019, IGP formed a partnership with The Womb as a part of their business and brand growth journey.[14]
Celebrity collaboration
In January 2023, IGP partnered with Bollywood actress Ananya Panday for Valentine's Day.[15] Subsequently, in May 2023, the company entered into a collaboration with Bollywood actress Kajol for Mother's Day.[16] In July 2023, the company teamed up with the Indian actress, Pooja Hegde, for a Rakhsha Bandhan campaign.[17]
IGP was the official gifting partner of the Akshay Kumar starrer Rakshabandhan movie.[18]
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Funding
In October 2016, IGP raised $2 million (₹13 crore approx) in seed funding. The round was led by angel investors Naveen Arya, promoter, Karamchand Appliances and Tarun Joshi, Director, PE firm, 3i.[10][19]
In December 2017, the company raised an undisclosed amount of Pre Series A funding led by Venture Catalysts.[20]
In February 2022, the company secured $10 million in a Series A funding round led by DSG Consumer Partners, Rajiv Dadlani Group, 9Unicorns and Venture Catalysts.[21] Additionally, in September of the same year, IGP received $23.5 million in its Series B funding round, with Motilal Oswal Alternate Investment Advisors (MO Alts).[22][23]
Awards and recognition
2023: IGP was awarded the Guinness World Record for creating the longest chain of bracelets in the form of Rakhis.[24][25]
See also
References
External links
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