How IGP Is Revolutionizing Global Gift Delivery with AI-Powered Fast Shipping for 10 Million Customers

Long before the upheaval of the pandemic in 2020, the world was witnessing the rise of e-commerce, driven by its unparalleled convenience and expansive product variety compared to traditional retail. Imagine a digital marketplace capable of sourcing gourmet delicacies from artisanal food producers or exquisite artworks from remote corners of the globe – a diverse range bound to impress. Coupled with the increasing integration of AI/ML, visual search, and computer vision technologies, the realm of online shopping now offers optimized recommendations and tailored product suggestions based on individual preferences. Thus, it's no surprise that the landscape of traditional gifting is rapidly migrating online, encompassing every aspect.

In the era of and beyond the pandemic, both corporate and consumer gifting have experienced exponential growth, as entities seek safe, convenient, and personalized options. Notably, corporate gifting constitutes over 80% of the entire gifting market. Projections suggest that the online gifting market in India alone will soar to $72.6 billion by 2029, fueled by consumers' willingness to invest in unique and innovative gift items.

However, online gift shoppers often find themselves digitally overwhelmed while navigating through choices and hunting for the best deals. They are known for swiftly abandoning brands when instant gratification is not met – whether it pertains to product quality, diversity, pricing, or delivery speed. Recognizing the challenges faced by early adopters despite the surge in online gifting, entrepreneur-investor Tarun Joshi introduced IGP (formerly Indian Gifts Portal). This multi-category gifting marketplace offers meticulously curated, premium collections sourced directly from artisans.

IGP boasts a wide assortment of exquisite gifts, spanning from delectable cakes and gourmet chocolates to fresh flowers and plants, home decor, fashion accessories, toys, and more. With 4 primary categories, 30 sub-categories, and a constantly expanding inventory exceeding 3000 SKUs, IGP positions itself as the ultimate online destination for gifting needs, catering to every occasion – from festive and corporate events to personal milestones like birthdays, anniversaries, weddings, and housewarmings.

While Joshi is the brain behind IGP's transformation, the platform had its origins as an online gifting venture with India Mart. Following its acquisition by Joshi in 2017, IGP expanded its operations to include a B2B2C arm for corporate gifting (IGP for Business), along with two additional gifting platforms specializing in fresh flowers (Interflora India) and gourmet chocolates (Masqa).

IGP leverages its technological prowess, particularly in AI, and robust logistics infrastructure to meet the escalating demand for gifts across corporate and non-corporate sectors. AI-driven gifting solutions enable personalized product curation, while partnerships with 10 leading logistics providers ensure swift delivery to over 100 countries within five days. Moreover, IGP's extensive range of perishable items can reach over 25 Indian cities within 30 minutes, with same-day delivery available in 400+ cities.

With offices strategically positioned in India, Singapore, and Dubai, IGP boasts a customer base exceeding 10 million and achieved a remarkable 50% year-on-year revenue growth in FY23. Targeting revenues of INR 300 crores in the current fiscal year, IGP stands poised in a resilient market, as gifting remains a timeless tradition.

To date, IGP has secured $35 million in funding from various investors, including Venture Catalysts++, 9Unicorns, MO Alternates, DSG Consumer Partners, and others. Notably, VCats has played a pivotal role in IGP's journey, providing critical guidance and support across multiple rounds of funding.