Caratlane raises $15 mn

Caratlane, an online jewellery retailer has raised $15 million in third round from Tiger Global, bringing its total funds to $27 million. Caratlane was launched in 2008, by Jaipur Gems’ former executive Mithun Sacheti and IT entrepreneur Srinivasa Gopalan. Since then it has raised $6 million in 2011 and then $6 million again in 2012 from Tiger Global.

Caratlane operates across 150 cities in the country and offers diamonds and diamond jewellery from 4000 global vendors. The website also offers a Try-at-Home feature which allows customers to select 5 products from the Try-at-Home catalogue which are then delivered to the customer’s doorstep to try and choose which one to buy. Caratlane saw revenues of close to INR 50 crores in 2011, about 60 per cent of which came from the top 8 cities. Caratlane.com is targeting triple the amount for 2013. It also reaches customers through its offline Caratlane Lounge.