Funds will be used for expansion of stores.
Youshine, the artificial jewellery retail business of MM Retail Pvt Ltd, has raised Rs 2.5 crore ($0.5 million) from two angel investors based in Switzerland.
The current round of funding received will be used for the expansion of the jewellery stores, both online and offline. Moreover, they are also looking to open more sales counters in new locations.
Youshine, which runs both brick-and-mortar outlets and an e-commerce portal, currently operates around 10 kiosks in various shopping malls in Gurgaon, Delhi and Punjab. It plans to expand pan-India, essentially via the franchise model, and is keen to ramp up its e-commerce offering.
Youshine was founded by the husband-wife duo, Monika Pal Sood and Ashish Sood, a little over two years ago.