Mohali (Punjab) [India]July 22nd: Emerging spiritual e-commerce brand, Japam, today announced the successful closing of its Friends and Family (F&F) funding round. The company, which has created a lot of buzz in the online spiritual and wellness space, is gearing up to raise a seed round of funding in the coming months.
Founded in 2023, Japam has quickly established itself as the go-to platform for spiritual seekers seeking high-quality products and resources. The company offers a curated selection of products designed to support individuals on their spiritual journey and help them express their spirituality.
The exact amount raised in the F&F round was not disclosed, but sources close to the company put it in the mid-seven figures. The initial funding has enabled Japam to refine its product lineup, enhance website functionality, and expand its team of spiritual experts and content creators.
“We’re thrilled with the support we’ve received from our friends and family investors,” said Ritvan Chakrabarti, founder and CEO of Japam. “Their belief in our vision has helped us get to where we are today. This funding has allowed us to build a strong foundation for our business and prove our concept in the market.”
The spiritual and wellness market has experienced significant growth in recent years, with the global wellness economy valued at $4.4 trillion in 2020 and projected to reach $7 trillion by 2025, according to the Global Wellness Institute. Japam aims to capitalize on this trend by offering a unique combination of carefully sourced physical products and resources.
With the successful completion of the F&F round, Japam is now looking towards a larger seed round. The company plans to use the upcoming funding to expand its operations.
The company is investing in marketing to grow its operations, expand its product line, and reach a wider demographic of spiritual enthusiasts.
“Our next stage of growth is crucial,” Litvan explains. “The seed round will allow us to take Japam to the next level. We are looking to partner with investors who not only bring capital but also share our passion for bringing spiritual growth to everyone.”
Japam’s approach has resonated with early adopters, who praise the platform for its superior features.
Committed to reliability and quality, the company has seen steady growth in both user acquisition and repeat purchases since its inception.
“What sets Japam apart is their holistic approach,” says loyal customer and spiritual coach Anubhav Wadhwa. “They don’t just sell products, they create a community and provide valuable resources for spiritual growth. Japam is a one-stop shop for anyone wanting to deepen their practice.”
The company has not yet announced the amount it is targeting for its seed round, but it is expected to receive $1.
Sources speculated that the amount could be in the range of $3 million to $5 million. Japam plans to use the funds to strengthen its technology platform, expand its product lineup, and potentially expand into new markets.
Expansion into marketplaces and omnichannel.
As the spiritual e-commerce sector continues to evolve, Japam’s journey from F&F to seed funding represents a significant milestone. With a strong foundation and a clear vision for the future, the company is poised to make a lasting impact on the world of spiritual expression.
To visit Japam, click here: https://japam.in
Disclaimer: Business Standard journalists have not been involved in the creation of this content.
First Edition: 23 July 2024 | 11:15 AM IST
