[Funding Alert] Mabel Bags $1.5 mn in Seed Funding
[Funding Alert] Mabel Bags $1.5 mn in Seed Funding

Mabel, India’s first one-stop jewelry shopping platform, has raised $1.5 million in seed financing led by Whiteboard Capital, Sauce VC, and Incubate Fund. The company will utilize the funding for developing its product and scaling teams across all domains. The Mabel platform is already live and shipping across India and aims to launch worldwide shipping in the coming months. 

Founded in June 2022 by Anubhav Barsaiyan, Aashish Garg, and Milind Sharma, Mabel is targeted toward customers desiring top brands and designer labels. A curated marketplace with 50+ brands and over 10,000+ designs, Mabel offers endless options across traditional and contemporary styles and all material types, from fine to fashion. The platform has exclusive designs for several occasions and covers styles for different budgets. It also aims to enable traditional offline brands to be discovered digitally, eventually increasing sales.

Milind Sharma, Co-founder of Mabel, commented, “We aim to build Mabel to be an engaging and seamless shopping platform for the customers and elevate Indian brands to serve a global audience. With this platform, we desire to disrupt the online jewellery shopping experience through brand and product discovery. We will enhance the customer experience by leveraging virtual try-on and AR, bridging the gap between offline and online buying experiences. We are delighted to have the backing and confidence of our investors to help us achieve our vision. While we are currently live in India, we are focusing on going live across the globe shortly.

Manu Chandra, Founder and Managing Partner at Sauce VC, commented, "We view jewelry as a $100 billion market driven by curation and trust. India is home to tens of thousands of exceptional boutique and scaled brands. The same consumer shops from different formats for different use cases like weddings and festive, office wear, or casual wear. We believe Mabel can be a one-stop online platform for jewelry that uses technology to offer consumers a wide range of intelligent recommendations and trust."

Anshu Prasher, General Partner at Whiteboard Capital, said, “As a Fund, we have strongly believed in the possibility of creating large consumer-first vertical brands solving specific problems shoppers face. For a category like jewellery that is high on the width of applications/needs and multiple considerations for selection, the supply side is driven by individual brands, making discovery and quality curation a significant difficulty. We are excited by the Mabel team’s vision of solving this complicated problem by becoming the destination for high-quality jewellery discovery and curation. We look forward to this journey as they execute and grow profitably.

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