Info-tech

Indiangiftsportal.com looks to raise ₹60 crore

Bindu D Menon Mumbai | Updated on January 24, 2018 Published on July 28, 2015

Want to send a surprise gift to your loved one at midnight? Indiangiftsportal.com says it will help you find not just the right gift but also offer valueadded services like a guitarist to sing for your loved one.

To spruce up its logistics, last mile delivery and curated gift products, the company is in talks to raise $10-12 million (₹60 odd crore) for PEs or VC.

“Finding the perfect gift is no more a tedious task but delivering that gift at a right time and at an apt occasion is very important, and we often face this challenge. Our aim is to provide not just same day delivery but also express delivery,” said Rahul Garg, Founder-CEO, Indiangiftsportal.com, online gifts super-market.

Garg said the company currently has same-day delivery in 300 cities while express delivery across 200 cities.

“We want to take the same-day delivery to 600 cities. We are looking for funds to spruce up our backend logistics,” Garg said. He said the company is also looking to set up its own logistic network and increase its warehouses spaces.

IGP has five warehouses, including one in the US. The company works on an inventory-led model. Garg said 20 per cent its orders were outside of India.

“We have a just-in time model where we design and create gift hampers as per the occasion,” he said, adding that the model was created as customers wanted personalisations.

He said the company is focusing on three broad gifting categories — festivals, personal occasions and corporate gifts.

Asked about its revenues, Garg said the company is targeting ₹50 crore in revenue by this fiscal-end.

Published on July 28, 2015
This article is closed for comments.
Please Email the Editor