Ratan Tata backed online jewellery company BlueStone has raised Rs 100 crore from a clutch of investors led by IvyCap Ventures, Accel Partners and Dragoneer Investment Group.Investors are betting on India’s internet-savvy women adding sheen to online jewellery startups. Venture capital firm Kalaari Capital is leading a Rs 100 Crore investment into Bluestone, a 3-year-old e-tailer of curated jewellery.
The Bangalore-based Bluestone is probably the only Indian consumer internet story integrated from manufacturing to e-tailing. Its fully-owned manufacturing unit helps deliver curated or bespoke jewellery, besides offering a longer list of collections.
Gaurav Kushwaha and Vidya Nataraj co-founded Bluestone, which was funded by US investors Accel Partners, Saama Capital and local investor duo of K Ganesh and Meena Ganesh initially.
The proceeds will be used to fund expansion and build the brand, said Gaurav Kushwaha, the Bengaluru-based startup’s CEO and cofounder.
It was Kushwaha’s IIT tag that attracted IvyCap Ventures to the company, said Vikram Gupta, founder and managing partner of the venture capital firm.
“There is a huge potential for differentiated e-commerce. Bluestone offers a full spectrum of brand, design and manufacturing. The order value and gross margins in the business makes it an attractive model,” K Ganesh, an early investor in Bluestone, said.