August Jewellery Pvt Ltd, which operates e-tailer lightweight affordable jewellery brand Melorra, has raised $12.5 million (Rs 92 crore) in a new funding round.
The mop-up in Bengaluru-based Melorra was led by Symphony Asia and along with Lightbox Ventures and Alteria Capital. Symphony Asia is a Hong Kong and Singapore-based private equity firm led by Anil Thadani.
Other participants in the round include existing investors such as the Burman family of Dabur and, the Jeejeebhoy family, the company said in a statement. The startup plans to use the capital to enhance its technological infrastructure, product innovations and brand marketing.
Melorra had, nearly an year ago, raised $12 million (around Rs 85 crore) in a Series C round that was led by Lightbox Ventures. BlackSoil Capital and family offices including those of Ravi Sheth of the Great Eastern Shipping Company, Burman and Jeejeebhoy also took part.
Founded by Saroja Yeramilli in 2016, Melorra’s primary target audience is millennial women.
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