Lightbox Ventures, BlackSoil Capital, clutch of investors invest $12 million in jewellery brand Melorra

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

One of its kind startup, Melorra, a fine jewellery brand, has secured $12 million (approx INR 85 crore) in funding round from Lightbox Ventures, BlackSoil Capital and a clutch of other investors, reported Inc42.

In January 2019, Melorra received a seed funding of $5 million from Lightbox Ventures.

“We are sure the funding will enable them to enhance their capabilities and grow deeper in the markets that they service. By bringing gold jewellery to the mainstream in a never-before manner,” said Siddharth Talwar, Partner of Lightbox.

Melorra was founded by Saroja Yeramilli in 2016. The jewellery brand Melorra has been a part of daily-wear gold jewellery.

The company sells trendy and lightweight jewellery that reflect the global minimalist trends. It uses computer-aided design (CAD) to directly sell to consumers and claims to have delivered 1,300 Indian towns.

“We are filling a need gap by bringing to the millennial woman fine jewellery that doesn’t get confined to any occasion,” Yeramilli added.

Melorra has its own inhouse designers based in India, the US and the UK. The Bengaluru-based startup has two warehouses in Jaipur and Mumbai.

The company Melorra claims to have 5K designs in its catalogue that are inspired by the recent fashion trends from globally fashion runways.

The company has also claimed to have recorded a 400% year-on-year (YoY) growth in financial year 2018-19.

Adding on, Melorra expects to expand its revenue by five-times in the FY2020. “Melorra will be a 400 cr revenue company in FY21 and is on the fast-moving track to profitability,” the company added.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

BJP will end power subsidy: Kejriwal

New Delhi, Oct 20 (IANS) Delhi Chief Minister and AAP National Convenor Arvind Kejriwal said on Sunday that the...

Rohit surpasses Bradman, adds another feather to his cap

Ranchi, Oct 20 (IANS) Rohit Sharma has silenced his critics with his continuous good run with the bat in the ongoing series against South...

ATK, Kerala renew acquaintance in ISL opener

Kochi, Oct 20 (IANS) Kerala Blasters Football Club will host arch-rivals ATK at the Jawaharlal Nehru Stadium here for the opening match of the...

Army man Saikhom wins Goa Ironman 70.3 triathlon

Panaji, Oct 20 (IANS) Indian Army Hawaldar Bishworjit Singh Saikhom won India's...

Marquez claims 10th 2019 MotoGP win in Japan

Motegi (Japan), Oct 20 (IANS) Marc Marquez of the Repsol Honda Team on Sunday grabbed his 10th MotoGP victory this season at the Twin...
- Advertisement -

More Articles Like This