JewelMaze, an online fast fashion jewellery marketplace, has secured $4 million from Brand Capital, the strategic investment arm of Bennett Coleman and Co Ltd. The fresh capital will be used by the company to expand rapidly and widen its product base.
Founded in 2016, JewelMaze has its flagship store in Mumbai. The brand is also listed on e-commerce marketplaces like Amazon, Flipkart, Shopclues, and Snapdeal among others. It has successfully executed over 2 lakh orders.
Ritesh Barbhaya, CEO of JewelMaze, said, "The funding is the result of the brand's focus on delivering quality products and building an online community with a robust ecosystem committed to delight the customer. We are very pleased to have Brand Capital as an investor which in turn provides us access to the BCCL platform enabling us to reach a wider audience."
The online jewellery startup’s one of the key focus areas is to offer a platform for jewellery designers to showcase their creations and connect with manufacturers, re-sellers, whole sellers, and exporters in an otherwise unorganised industry.
Sam Subramaniam, CEO, Brand Capital, added, "Brand Capital continues to encourage ambitious entrepreneurs and we believe that this partnership will create a destination for young India to continuously upgrade to the latest fashion jewellery trends."