Melorra, India’s fastest growing fine jewellery brand that’s making gold trendy for everyday wear, has raised $12 million funding from VC Lightbox, BlackSoil Capital and family offices of some of India’s biggest business houses. These include Ravi Sheth, Great Eastern Shipping Company; the Burmans of Dabur; Rainmaker Ventures and the Jeejeebhoy family office.
DPNC Advisors, the financial advisory arm of Dewan P N Chopra & Co, advised Melorra on raising capital from the Burman Family Office. Melorra has been a disruptor in the daily-wear gold jewellery market ever since it started operations in 2016 and has created a new concept of trendy and lightweight-fine jewelery.
The brand’s fashion-forward, no-inventory approach and its use of the latest computer-aided design (CAD) technology make it a leading digital direct to consumer jewellery brand.
Saroja Yeramilli, Founder and CEO, Melorra, said, “We are very happy to have raised this round of funding from Lightbox and some of India’s leading family offices. We are the only brand offering over 5000 jewellery designs inspired by recent fashion trends from Milan and Paris and bringing them to Indian cities. We are filling a need gap by bringing to the millennial woman fine jewellery that doesn’t get confined to any occasion. I had conviction in the potential of this market when I started out and my belief has been validated by the response from the customers across India. Going forward, our aim is to become the largest daily-wear fine jewellery brand in the country.”
Sid Talwar, Partner, Lightbox, stated, “As a consumer brand by a woman for women, Melorra has been a changemaker in the segment, bringing about a transformation in the way people look at gold jewellery. We are sure the funding will enable them to enhance their capabilities and grow deeper in the markets that they serve. By bringing gold jewellery to the mainstream in a never-before manner, Melorra is encouraging more women to experiment with their wardrobe. We are extremely happy to support them on their journey.”
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