Mahindra Holidays has purchased a 12% stake in the Bengaluru-based startup Nreach Online Services Pvt. Ltd.

Nreach Online Services Pvt. Ltd. operates Giftxoxo.com, an online gifting platform that enables the users to send gifts for personal, corporate, and B2B requirements in India

Bengaluru - Oct 4, 2016. RedNewswire/-

Mahindra Holidays & Resorts India Ltd,the largest leisure and hospitality provider in India, has announced that it has signed an agreement to acquire a 12 per cent stake in Nreach Online Services Pvt. Ltd, which operates online gifting portal Giftxoxo.com. However, the amount invested  by Mahindra Holidays in Nreach online services remains undisclosed.

Nreach Online Services runs two experience-based websites, giftxoxo.com and frogo.in.

Giftxoxo was founded in 2012 and is based in Bengaluru, with branch offices in Delhi, Mumbai, Raipur, Kolkata, and Jamshedpur. The company offers corporate gifts, gifts for kids, and gifts for various occasions.

It offers over 4000 categories of experiences and activities including travel and adventure, gourmet, health and wellness, and art and learning.

Its product categories include backpacks and haversack, hand bags and clutches, candles and lamps, home and kitchen products, home appliances, kitchenware, sports and fitness, crafts, divine, bags and accessories, travel bags, clocks and watches, indoor, outdoor, apparels and accessories, accessories, jackets, T-shirts, arts, desktop clocks, wall clocks, watches,etc.

Frogo.in is a consumer app, marketed towards helping regular people find and book activities and experiences.

Manoj Agarwal, Co-Founder of Giftxoxo and Frogo, said..

“Our strength and understanding of experience business coupled with strong brand name of Mahindra Group will help us create a strong supply of curated experiences, build a robust and scalable technology platform and provide value to end customers.”

Abhishek Kumar, Co-Founder, Giftxoxo, said, he sees the Mahindra Group adding reach and an experience boost to an agile company.

“This will also help us adopt to latest technologies at a faster pace and scale to new markets. We welcome their investment, and appreciate the confidence they’ve expressed in our brand, distinguished offering, idealistic leadership and strong growth opportunities.”

Kavinder Singh, Managing Director and CEO of Mahindra Holidays & Resorts India Ltd, said..

“Our ‘Club’ members will now have more opportunities to bond with their families not only at our 46 resorts in India and abroad, but also in their hometowns, year-round.”

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