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Joybynature, an online marketplace for organic products, raises $1 mn from Mumbai Angels, others

Joybynature, an e-commerce
platform for organic and natural product, has raised $1 million pre-Series
A funding led by Mumbai Angels, Contrarian Vriddhi Fund and individual angels,
including Abhimanyu Munjal (Hero Group), Vaaman Sehgal (Mothersons Sumi group),
Dhairya Choudhrie and Somak Ghosh.

Joybynature, an e-commerce
platform for organic and natural product, has raised $1 million pre-Series
A funding led by Mumbai Angels, Contrarian Vriddhi Fund and individual angels,
including Abhimanyu Munjal (Hero Group), Vaaman Sehgal (Mothersons Sumi group),
Dhairya Choudhrie and Somak Ghosh.

According to a
YourStory report, the proceedings will be deployed towards developing a private
label, acquiring senior level talent, marketing, and technology ramp up.

Joybynature,
which was founded by IIT & IIM alumni Shailesh Mehta and Rahul Kumar, has 35,000
plus registered customers and has so far done 50,000 plus orders with minimum
marketing spends.

Speaking about
traction, Shailesh, Co-Founder and CEO, Joybynature told YourStory, “The company is on the cusp of exponential
growth and we plan to change the way people buy organic and natural products
online by providing a solution-driven buying experience.”

The Delhi-based company
has registered GMV sales of Rs. 1.7 crore in FY14-15, and has been able to
differentiate itself from its competitors by focusing on content-driven sales
and guiding customers who are still new to a natural way of life. The company
has reportedly tied up with over 300 vendors and gets over 65% of its orders
from states outside North India. Talking about the thesis behind the
investment, Mumbai Angels added,

The company’s
competitors include Saatviko, Naturalmantra and Browntree.
With this pre-Series A round, Joybynature is looking to go global as
international markets are lucrative for pushing organic and natural products.

At present, the
global market size for such products is worth over $250 billion.

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