Total amount raised
$285.5 Million
Latest funding date
8/1/2024
Location
BlueStone has successfully raised funds through 15 rounds, with the latest being a debt financing round. The company is backed by 28 investors, including notable names like BlackSoil and Caspian Impact Investments.
BlueStone's journey in the fine jewelry market is marked by strategic investments and a robust funding history. Keep reading to explore the intricacies of BlueStone's fundraising journey and the investors backing this innovative platform.
What Is BlueStone?
BlueStone, founded in 2011 by Gaurav Singh Kushwaha, is a prominent player in the fine jewelry market. Headquartered in Bangalore, India, the company operates in multiple industries, including E-Commerce, Jewelry, Lifestyle, and Retail.
With a significant employee base ranging from 1001 to 5000, BlueStone offers certified gold and diamond designs through an omnichannel retail and online experience. The company emphasizes customer satisfaction with policies like Lifetime Exchange, Buyback, and a 30-Day Money Back guarantee.
How Much Funding Has BlueStone Raised?
- Debt Financing
- Amount Raised: $5.4 million
- Date: March 2024
- Lead Investors: Neo Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and growth initiatives.
- Series H
- Amount Raised: $72.3 million
- Date: August 2024
- Lead Investors: Prosus Ventures
- Valuation at Round: $970 million
- Motivation Behind the Round: To set a valuation benchmark ahead of the planned IPO.
- Secondary Market
- Amount Raised: $36.1 million
- Date: August 2024
- Lead Investors: Prosus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series Unknown
- Amount Raised: $66.1 million
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: $450 million
- Motivation Behind the Round: To expand the company's retail footprint and enhance online capabilities.
- Series Unknown
- Amount Raised: $30 million
- Date: March 2022
- Lead Investors: Sunil Kant Munjal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series E
- Amount Raised: $1.9 million
- Date: July 2020
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Series D
- Amount Raised: $1.4 million
- Date: January 2020
- Lead Investors: Avanz Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance customer experience and expand product lines.
- Series Unknown
- Amount Raised: $5.9 million
- Date: February 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and market expansion.
BlueStone has raised a total of $219.1 million with a current valuation of $970 million.
Key Investors
- Prosus
- Details: Prosus is a global consumer internet group and one of the largest technology investors in the world. They have a significant presence in various sectors, including online classifieds, food delivery, and fintech.
- Investment Focus Areas: Consumer internet, e-commerce, fintech, food delivery
- Notable Investments: Tencent, Delivery Hero, Swiggy
- Peak XV Partners
- Details: Formerly known as Sequoia Capital India, Peak XV Partners is a venture capital firm that invests in early-stage and growth-stage companies. They have a strong focus on technology, consumer, and healthcare sectors.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Byju's, OYO, Zomato
- Steadview Capital
- Details: Steadview Capital is an alternative asset management firm that makes concentrated long-term investments in high-growth companies. They invest in both public and private markets.
- Investment Focus Areas: Technology, financial services, consumer
- Notable Investments: Nykaa, PolicyBazaar, Dream11
- Think Investments
- Details: Think Investments is an investment firm that focuses on global public and private equity investments. They have a particular interest in technology and consumer sectors.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Flipkart, Ola, Delhivery
- Pratithi Investments
- Details: Pratithi Investments is the family office of Infosys co-founder Kris Gopalakrishnan. They focus on a diverse range of investments, particularly in technology and innovation-driven companies.
- Investment Focus Areas: Technology, innovation, startups
- Notable Investments: Infosys, various early-stage tech startups
What's Next for BlueStone?
BlueStone's future looks promising with significant opportunities on the horizon. The company has raised substantial capital, positioning itself for aggressive expansion. With plans to increase its offline stores from 220 to 400 in the next 12-18 months, BlueStone is set to strengthen its market presence. The upcoming IPO, expected to be valued at Rs 2000 crore, will further bolster its financial standing and attract more investors.
However, the path ahead is not without challenges. Achieving profitability by March 2025 and managing rapid expansion will require strategic planning and execution. Additionally, the competitive landscape in the jewellery retail sector and market volatility could pose hurdles. Despite these challenges, BlueStone's strong investor backing and digital-first approach provide a solid foundation for future growth and success.
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