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Organic products startup Joybynature raises $1 mn from Mumbai Angels, others

Joybynature Inc.,
an online organic products company, recently raised $1 million in early stage
funding in a round led by Mumbai Angels and joined by Contrarian Vriddhi Fund
and Individual Angels.

Joybynature Inc.,
an online organic products company, recently raised $1 million in early stage
funding in a round led by Mumbai Angels and joined by Contrarian Vriddhi Fund
and Individual Angels.

The Delhi-based
company, which operates Joybynature.com, was founded in 2014 by Shailesh Mehta
and Rahul Kumar. According to a Live Mint report, it is looking to use the
funds to launch a private label and hire senior executives, besides marketing
initiatives and technology expansion.

According to a
report by Marketresearch Inc, the Indian organic market is expected to reach
$173.3 million by 2017. The report states that with this unprecedented growth,
the opportunity for farmers and growers to gain access to investment
opportunities, providing supply and marketing the benefits to consumer will be
tremendous.

“A shift in
consumers’ mindset towards organic and natural products is becoming a way of
life, consumers’ willingness to transact online and a solid team was the
rationale behind the investment. The team has worked with farmer-producer firms
of organic and natural products, and fits into the theme of working with mass
market businesses,” Somak Ghosh, managing partner with Contrarian Vriddhi Fund,
told Live Mint.

Joybynature
claims to have over 35,000 customer. Besides offering about 10,000 products, it
also provides expert advice on wellbeing through live chats.

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