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Online jeweller Melorra gets $12 million from Lightbox, others

Online jewellery brand Melorra announced that it has raised $12 million in capital from VC Lightbox, BlackSoil Capital and a few family offices.

The company stated that the family offices include Ravi Sheth, Great Eastern Shipping Company; the Burmans of Dabur; Rainmaker Ventures and the Jeejeebhoy family office.

This takes Melorra’s lifetime funding to about $25 million. Melorra claims the company recorded a year-onyear growth of 400% in FY19 but did not give any details of its topline.

“Going forward, our aim is to become the largest daily-wear fine jewellery brand in the country,” said Saroja Yeramilli, founder and CEO, Melorra.

Its lead investor Lightbox said that the money could help the company scale. “We are sure the funding will enable them to enhance their capabilities and grow deeper in the markets that they service,” said Sid Talwar, partner, Lightbox. Founded in 2016, Melorra 3D prints jewellery moulds and claims it reaches customers in 26,000 pin codes.

Earlier this year, Titan increased its holding in Caratlane by 3% and added capital to the tune of Rs 99.9 crore.

Courtesy - Economic Times



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