Indigifts Makes Waves in Shark Tank India, Secures Funding from Vineeta Singh and Ritesh Agarwal

• ByStartupStory     |    April 17, 2024

Indigifts as the New Age India’s Gifting brand, has achieved a significant milestone by securing funding from prominent investors Vineeta Singh, Co-Founder & CEO of SUGAR Cosmetics, and Ritesh Agarwal, Founder & CEO of OYO Rooms. The deal, struck on the set of Shark Tank India Season 3, marks a pivotal moment in Indigifts’ journey, propelling the company into a new phase of growth and innovation.

Founded in 2017 by Nitin Jain and Divya Jain, Indigifts.in has quickly emerged as a frontrunner in the gifting landscape, offering a curated selection of meaningful, indigenous, and culturally rich gifts that resonate deeply with consumers.
Indigifts sets itself apart through its emphasis on personalization, authenticity, and storytelling, capturing the hearts of consumers across India. Each gift is meticulously crafted to reflect Indian culture and craftsmanship, aiming #VOCALforLOCAL and to evoke emotions and create lasting memories.

With lifetime sales soaring to an impressive Rs 45 Crore and operations spanning a sprawling 14,000 square feet office space in Jaipur, Indigifts has solidified its position as a leader in the gifting industry. Offering over 5,000 SKUs, and processed over 2M+ gifts in 12+ Indian vernacular language, the company continues to expand its reach and impact.

The funding round on Shark Tank India Season 3 saw Indigifts securing ₹50 Lakhs for a 4% equity stake. However, Nitin clarified that the Investor agreed to Keep the Valuation 25 Cr and invest 25 Lakhs each against 1% Equity against the investment and 1% advisory. This strategic partnership is poised to propel Indigifts towards greater heights, enabling the company to accelerate its growth trajectory and further its mission of promoting Indian craftsmanship globally.

“Nitin expressed his vision for the brand, stating, “India is the land of unity in diversity; sustainability, simplicity, and regionality are the keys to building a successful consumer brand in India. It’s unfortunate that the Indian market is dominated by cheap Chinese products. We are committed to make in India and take it to the world. “

Nitin holds culture in high regard when shaping his brand’s identity, drawing inspiration from cherished traditions and memories.Reflecting on their journey, Nitin and Divya envisioned Indigifts to convey the perfect message, whether for family, friends, or partners. Their mascot, Indi, derived from their names Nitin and Divya, represents their target audience and the youth of India, embodying the spirit of creativity and connection with a family of macotts of Papa – Mummy, Dada-Dadi, Sister, Wife, Friends, Guruji, Kid, Pet etc

Indigifts’ commitment to sustainability is evident in products like the Seed Rakhi, which addresses environmental concerns associated with traditional rakhis. Nitin emphasises simplicity in gifting, understanding that consumers prefer straightforward gestures that capture the essence of heartfelt sentiments.

As Indigifts continues to evolve with a dedicated team and a growing community of consumers, they are poised to make Indigifts a global brand, enabling people worldwide to express their emotions freely. Nitin and Divya aspire to make India’s biggest gifting brand by fostering collaboration and creating a shared space for indigenous brands by empowering creators, enabling sellers and growing with strategic partners.

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