Joi Gifts, the MENAPT region’s largest online gifts marketplace, announced today it has raised $1 million in pre-Series B funding from UAE-based Panthera Capital and leading regional and international angel investors. Panthera is a VC & PE firm based in Dubai and is the investment arm of Fujairah Holding.
Rami Kahale, CEO of Joi Gifts, said the online marketplace would use the funding injection to strengthen its position as the leading gifting marketplace in the region. The company will invest in marketing to make the brand a household name and will continue to expand its core offering within categories such as toys and gifts for kids, beauty and personal care, jewellery and accessories, and homeware. At the same time, it will continue to innovate on new product categories like the recently launched NFTs, and new customer experiences like augmented reality and Express Delivery.
