MUMBAI : Online jewellery brand Melorra said on Wednesday that it has raised $12 million in a Series C round led by existing investor, venture capital firm Lightbox Ventures. Other investors include the Burman family office, the private investment arm of the promoters of Dabur India, and the Jeejeebhoy family office. Melorra also raised $2 million in debt from BlackSoil Capital, which provides debt to startups and other firms. Melorra achieved gross revenue of about ₹55 crore last fiscal, which it expects to jump to ₹150 crore this fiscal through March, and ₹400 crore next year, Yeramilli said. Among jewellery startups though, both BlueStone and CaratLane focus more on the high end, and more expensive items, as compared to Mellora, which wants to focus only on jewellery that costs less than ₹30,000.

Source: Mint October 09, 2019 12:16 UTC