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April - 2014 - issue > Venture Beat

Jewellery e-tailer BlueStone Raises Rs.60 Crore from Kalaari Capital

SI Team
Saturday, April 5, 2014
SI Team
BlueStone.com, an online jewellery destination, raises Rs.60 crore in a funding led by Kalaari Capital, while existing investors Accel Partners and Saama Capital also participated in this round of funding. Led by Gaurav Kushwaha, Co-Founder & CEO, BlueStone will use the funds raised for marketing and brand-building. An important portion of the funds would be used to establish the company as the leading online jewellery store in coming two years. The company is also looking at doubling its revenue rate in 2014-2015.

Founded in 2011, BlueStone has built an innovative manufacturing model through 'made to order' manufacturing, which enhances the growth of the business. The unique features offered by BlueStone.com make it a convincing value proposition for the customer.

The company had earlier raised over Rs.30 crores in series A in 2012 which was used to set up operations and marketing. BlueStone offers a range of jewellery under five categories, including earrings, rings, pendants, bangles and bracelets. Various filters such as gold purity, stones, and occasion and stone color-have been provided to help buyers select the right kind of jewellery. The firm, which used to source the merchandise from third party manufacturers, has now started manufacturing on its own. The startup is also planning to go offline by setting up a physical store soon.

BlueStone recently launched a 'Wedding Bespoke' service, which allows end users to design and customize their wedding jewellery. A stylist from BlueStone exclusively designs the complete collection of jewellery matching the wedding trousseau.

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