Company Name : Joybynature
Funding Amount : $1mn
Investor(s) Contrarian Vriddhi Fund, Mumbai Angels and others.
Funding Round : Angel round
Joybynature, an ecommerce platform focused on organic and natural products, run by Pavitra Retail (P) Ltd, announced today that it has secured a pre-Series A funding of USD 1 Million from a group of angel investors. The company has registered GMV sales of INR 1.7 Crore in FY14-15 and works with 300+ vendors across the country and gets over 65% of its orders from states outside North India. Joybynature claims to have a repeat purchase rate of 30%.
Mumbai Angel Investors in this round include prominent names in the Indian industry including Abhimanyu Munjal (Hero Group), Vaaman Sehgal (Mothersons Sumi group), Dhairya Choudhrie (nationwide network of Hotels – including Ananda Spa – and Malls), Contrarian Drishti Fund (managed by Somak Ghosh, ex-YES Bank).