Joi Gifts, the MENAPT-based online gifts marketplace, raised $1m in a pre-Series B funding from Panthera Capital in addition to leading regional and international angel investors.
Launched in 2016, the startup offers a wide-range online gifting platform, allowing users to purchase and send tailored gifts, offering same-day delivery, and customized concierge delivery experience. Joi Gifts also introduced its Express Gift Delivery service earlier this year, offering customers in Riyadh, Dubai and Amman an extensive selection of gifts at their loved ones’ doorsteps in 90 minutes.
The company has also invested in product innovation and offers customers the ability to send NFTs to their loved ones, while paying for them using just their credit cards.
“Panthera constantly looks for niche investment opportunities in tech-enabled, scalable startups targeting multiple emerging markets. We have been impressed by the Joi Gifts team’s focus on lean growth and innovation. We believe Joi Gifts’ unique offering and differentiated customer experience are what it takes to succeed in the region, and we look forward to playing an active role in their next phase of growth,” Sonali Goila, Head of Venture Capital & Private Equity at Panthera Capital, said.
Joi Gifts will use the investment for marketing, and will continue to expand its core offering within categories such as toys and gifts for kids, beauty and personal care, jewelry and accessories, and homeware.
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