eCommerce Platform for Organic Products Joybynature Raises $1M from Mumbai Angels, Others

Delhi-based Joybynature, an eCommerce platform focused on organic and natural products, run by Pavitra Retail (P) Ltd, has secured a pre-Series A funding of $1 million from a Mumbai Angels, Contrarian Vriddhi Fund, and other individual investors. New round of funding will be utilized for private label launch, senior level talent acquisition, marketing and technology ramp up.

The startup helps people achieve well being goals through content, community and sale of natural and organic products and support nationwide and international delivery. It was launched in early 2013 by IIT & IIM alumni Shailesh Mehta and Rahul Kumar.

The company ships 300-350 orders a day with an average ticket size of Rs 350. Revenues for FY 2014-2015 stood at Rs 1.7 crore. The startup has tied up with over 300 vendors and gets more than 65% of its order from states outside North India.

Mumbai Angels Investors in this round include Abhimanyu Munjal of Hero Group and Vaaman Sehgal from Samvardhana Motherson Group who have invested through advantEdge, their personal fund.

Joybynature competes with firms like Naturalmantra, Saatviko and Browntree among others.

Similar Read:  Fundingwire - Payment Tech Startup ToneTag Raises Fresh Funds & More Funding Updates
Category