An imminent tech entrepreneur once said, “Don’t worry about failure; you only have to be right once”, and the Founder of Join Ventures, Tarun Joshi, has been right not just once or twice but multiple times in his career.
A man of many talents, Tarun has donned several different hats in his entrepreneurial journey and is currently the most recognisable face in the Indian Occasion Retail Market.
An alumnus of PEC, Chandigarh and ISB, Hyderabad, Tarun started his career as a Scientist with DRDO, where he played a crucial role in designing the flight control systems for India's first lightweight, high-agility supersonic fighter aircraft - Tejas, that entered service with the Indian Air Force (IAF) in July 2016. As a part of a pioneering initiative, he then designed the world's first biometric ATM that harnessed the power of technology to overcome language barriers and facilitated the financial inclusion of low-income microfinance consumers in India.
Tarun has over 12 years of investing experience at two of the world's leading private equity firms (3i and CVCI), where he successfully led & managed investments of over $500 million in India. In addition, he is an active angel investor in Indian start-ups with investments in E-commerce, Financial Services, Technology and Consumer companies.
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An avid sportsman, a state champion and 11 times national level player in Badminton, Tarun believes that sports can inculcate sturdy work ethics, determination, and a team-player approach to work. He has always strived for purposeful leadership that can foster a culture where talent doesn't just thrive but evolves to be agile and innovative to match the rapid growth of the digital-first ecosystem.
From helping build Tejas to private equity to an ambitious businessperson, Tarun has taken many routes to entrepreneurship, and now he aspires to serve every special occasion and celebratory moment across India.
Q1) Tell us about the initial journey of Join Ventures, Interflora.in and IGP.com?
The commercial scenario of retail in India, especially e-commerce, has evolved drastically in recent years. India, being a land of festivities, renders an immense scope of success for the brands in the celebratory space. I have over 12 years of investing experience at two of the world's best private equity companies (3i and CVCI), where I led and oversaw investments totalling more than $500 million in India. As an angel investor in Indian startups from sectors such as E-commerce, Financial Services, Technology, and Consumer businesses, I saw the early days and tailwinds of D2C brands and gifting as one vertical where much innovation and creativity were needed. I realised that an apt amalgamation of innovation and technology could lead to a successful online retail venture in the space. So I decided to follow my calling and began with IGP in 2016, which today has grown into India's largest D2C platform for gifting and occasions. In 2017, I started the Indian chapter of the international flower gifting service Interflora. The unleashed potential of the direct-to-customer ecosystem inspired me to launch Join Ventures in 2020, a house of D2C brands for celebrations. We launched Join Ventures with the vision to leverage world-class technology to make the festive online shopping experience convenient and joyful for our customers.
IGP.com, India's largest D2C platform for gifting and occasions; Interflora India, India's largest D2C brand for premium flowers; IGP for Business, a leading B2B2C partner for reward management and corporate gifting; and Masqa, which aims to become India's leading D2C brand for gourmet foods, are among the brands that make up Join Ventures' growing portfolio of brands.
Q2) Let us know about your journey as an entrepreneur? How a scientist in DRDO ended up becoming an investor and an entrepreneur?
My journey as an entrepreneur has been interesting and rewarding. From an early age, I was drawn to innovation and ended up joining DRDO, where I designed products for the Tejas aircraft - a multi-role light fighter jet. Once the fighter jet went into production, I felt restless since the creative and innovation phase was over. I was once again eager to dabble in value creation and innovation, and thus began my entrepreneurial journey.
I have always had an intense affinity and a flair for innovative technology, which made me part of a project on the world's first biometric ATM I designed in 2005. A technology way ahead of its time, the ATM harnessed the power of technology to overcome language barriers and facilitated the financial inclusion of low-income microfinance consumers in India. Little did I know at the time that the thumbprint design for the ATM would become a security standard in the future.
As an angel investor, I realised the calibre of e-commerce as an emerging industry. So I ventured into the world of innovative online retail business, specifically in the celebratory domain with IGP.
From helping build Tejas to private equity to establishing the largest house of brands for celebrations, I have donned several different hats. Now, I aspire to serve every special occasion and celebratory moment across the globe with the amalgamation of design and technology.
Q3) What has been your Eureka moment?
Entrepreneurs experience various moments of sudden discoveries, insightful learnings, and precious inspirations during the course of their entrepreneurial journey. We realised the immense potential of the celebration ecosystem in India and how evolving technology and innovation can capture every moment worth celebrating in the near future. The extensive data from the consumer preferences and the market potential they carry is the Eureka moment for us as they are still a largely underserved audience that needs a category creation to serve their celebratory needs for every special occasion.
Q4) What is the biggest challenge you have faced so far?
Every entrepreneurial journey has its pros and cons. Over the years, as a D2C enterprise, we have achieved many milestones. I will say keeping up with the ever-evolving technology and adapting to ever-increasing customer expectations is very crucial. We live in a world which is marked by sheer versatility. The pressure to perform under extremely competitive and dynamic scenarios is a prominent challenge for any ambitious enterprise. Our challenges were the same as the ones that any other D2C business in the initial stage faces - a disorganised market that needs upheaval and disruption through proprietary tech. We observed that even though the celebration ecosystem was huge in the country, there weren't many players serving it at scale; there was a lack of robust supply chain, transparent last-mile delivery or personalised options. Join Ventures overcame these challenges by building a curated merchandising platform with proprietary logistics infrastructure that comprises three mother warehouses, 40 dark stores, with another 100 to be set up soon.
Q5) Where does your venture stand today? What are your plans for the expansion of your enterprise?
I am delighted to state that Join Ventures has been a conspicuous success ever since its inception in 2020. Currently, we are the largest house of D2C celebration brands in India. We have grown exponentially as an enterprise in recent years, recording over 90% Y-O-Y growth in business. Our house of brands has an existing global footprint with a customer base spanning over 100+ countries. Our meticulous capability to ensure fast delivery of gifts to over 150 countries and 1000+ cities in India attracts customers ardently. We are the favourite destination of the Indian diaspora across the globe for festive gifting. The phenomenal success of Join Ventures has motivated us to expand our enterprise. We are planning a methodical expansion of our delivery network through dark stores and are working on automating the retail functions wherever possible.
We aim to launch new brands based on insights gathered from our existing portfolio to better serve the needs of flourishing Indian Households who consider occasions as rituals, happiness, a moment to bond and celebrate, and are increasingly turning online for quality products, personalisation and convenience. Overall, we envision building the largest ecosystem for celebration that offers handmade, customised, curated and unique products for every special occasion and celebratory moment in the life of our users.
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