BlueStone.com raises $10 Million in Series B funding led by Kalaari Capital
New Delhi: BlueStone.com, India’s premier online jewellery destination has announced a 2nd ...
New Delhi: BlueStone.com, India’s premier online jewellery destination has announced a 2nd round of VC funding, worth 10 Million Dollars (60 Crores). The funding is led by Kalaari Capital, while the existing investors Accel Partners and Saama Capital have also participated. Founded in 2011, BlueStone.com had raised $5 Million in Series A in 2012 which was used to set up operations and marketing. In a short span of three years, BlueStone has built considerable traction and established a niche for itself in the online shopping space.
Commenting on the occasion, Gaurav Singh Kushwaha, Founder & CEO BlueStone.com said, We are delighted to partner with Kalaari Capital for our second round of funding. This investment speaks volumes of our business potential. A significant portion of the funds would be appropriated towards marketing and establishing BlueStone as the leading online jewellery store in the next 2 years. We have done an extensive market research and have our strategies in place for achieving the desired goals”.
Vani Kola, Managing Director at Kalaari Capital, said BlueStone has built a unique manufacturing model through ‘made to order’ manufacturing which aides in a rapid and confident growth of the business. The unique features offered by BlueStone.com makes it a compelling value proposition for the customer. We are looking forward to our partnership with BlueStone.com to build it as a market leader in the online jewellery segment.
Prashanth, Board member of Accel Partners said, “Bluestone as a fine jewellery brand resonates well with a new generation of online buyers who are looking for superior designs that can be customized and are in line with current fashion trends. Their home try on option and speedy delivery are setting new standards for personalized online commerce”.
Gaurav Singh Kushwaha, Founder & CEO BlueStone.com added, “We are looking at doubling our current revenue run rate in 2014-2015 and are close to achieving operational profitability”
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