Total amount raised
$78.4 Million
Latest funding date
5/1/2022
Location
Melorra has successfully raised funding over 7 rounds, with the latest being a Series D round. The company is backed by 25 investors, including notable names like SRF Limited and Axis Growth Avenues AIF - I.
Keep reading to explore the intricacies of Melorra's fundraising journey and the investors backing this innovative jewelry brand.
What Is Melorra?
Melorra is a jewelry brand that designs and retails affordable and trendy jewelry for everyday wear. Founded in Bengaluru, Karnataka, India, the company operates in the e-commerce, fashion, jewelry, lifestyle, and retail industries.
With a workforce of 251-500 employees, Melorra focuses on creating lightweight and fashionable jewelry inspired by global trends. The company offers a wide range of gold and diamond jewelry, emphasizing customer satisfaction with services like easy returns and certified jewelry.
How Much Funding Has Melorra Raised?
- Series D
- Amount Raised: USD 14,000,000
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Strengthen brand marketing activities and expand offline experience centers across India.
- Debt Financing
- Amount Raised: USD 2,000,000
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely used for operational and expansion purposes.
- Series C
- Amount Raised: USD 24,000,000
- Date: October 2021
- Lead Investors: 100Unicorns, Param Capital, Symphony International Holdings, ValueQuest Investment Advisors, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Support rapid growth and expansion efforts.
- Series Unknown
- Amount Raised: USD 12,500,000
- Date: September 2020
- Lead Investors: Alteria Capital, Lightbox, Symphony International Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely used for operational and expansion purposes.
- Debt Financing
- Amount Raised: INR 660,000,000 (approximately USD 8,900,000)
- Date: September 2020
- Lead Investors: Shadows Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely used for operational and expansion purposes.
- Series Unknown
- Amount Raised: USD 12,000,000
- Date: October 2019
- Lead Investors: Lightbox
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely used for operational and expansion purposes.
- Seed
- Amount Raised: USD 5,000,000
- Date: January 2016
- Lead Investors: Lightbox
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to launch and develop the business.
Total Amount Raised: USD 78,400,000. Current Valuation: Not publicly disclosed.
Key Investors
- Axis Growth Avenues AIF-I
- Details: Axis Growth Avenues AIF-I is a fund managed by Axis Asset Management Company, focusing on growth-stage investments. The fund aims to support companies with high potential for scaling.
- Investment Focus Areas: Growth-stage companies, various sectors.
- Notable Investments: Not publicly disclosed.
- SRF Family Office
- Details: The SRF Family Office is the investment arm of the SRF Group, a multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The family office invests in diverse sectors, often focusing on long-term growth and sustainability.
- Investment Focus Areas: Diverse sectors, startups, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- N+1
- Details: N+1 is a private equity firm that focuses on innovative and high-growth potential startups. The firm aims to support companies through various stages of growth.
- Investment Focus Areas: Innovative startups, high-growth potential companies.
- Notable Investments: Not publicly disclosed.
- 9Unicorns
- Details: 9Unicorns is an accelerator fund that invests in early-stage startups. The fund provides funding, mentorship, and network support to help startups grow.
- Investment Focus Areas: Early-stage startups, various sectors.
- Notable Investments: Various early-stage startups.
- Symphony International Holdings Limited
- Details: Symphony International Holdings Limited is an investment company focusing on long-term investments in consumer-related businesses. The company aims to support businesses that have strong growth potential.
- Investment Focus Areas: Consumer-related businesses.
- Notable Investments: Various consumer-related businesses.
What's Next for Melorra?
Melorra's future looks promising with significant opportunities on the horizon. The company plans to leverage its recent $16 million Series D funding to enhance brand marketing and expand offline experience centers across India. This expansion is expected to solidify its market presence and drive substantial growth, aiming for $1 billion in revenue by FY26.
Future fundraising opportunities appear bright as Melorra continues to attract investor interest, potentially leading to additional funding rounds. The company’s rapid growth and innovative business model make it an attractive prospect for further investments. However, challenges such as competition from other jewelry brands and managing international logistics could pose hurdles along the way.
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