Jewelmaze raises Rs 28 crore from Brand Capital to fuel expansion

By

Maverick Martins

Published
Aug 8, 2019

Online fast fashion jewellery platform Jewelmaze has raised $4 million (Rs 28 crore) from Brand Capital, the strategic investment arm of Bennett Coleman and Co Ltd (BCCL).
 

Jewelmaze will use the funds to fuel its expansion plans and diversification of its product portfolio. The online marketplace is confident that its association with BCCL will help it cater to a wider audience across India.
 
Commenting on the investment, Ritesh Barbhaya, CEO of Jewelmaze in a statement said, "The funding is the result of the brand’s focus on delivering quality products and building an online community with a robust ecosystem committed to delight the customer. We are very pleased to have Brand Capital as an investor which in turn provides us access to the BCCL platform enabling us to reach a wider audience."

Sam Subramaniam, CEO at Brand Capital added, "Brand Capital continues to encourage ambitious entrepreneurs and we believe that this partnership will create a destination for young India to continuously upgrade to the latest fashion jewelry trends.”
 
Jewelmaze started operations in 2017 and claims to have executed more than 2 lakh orders in the last two years. The Mumbai based fashion jewellery brand has an exclusive flagship store in Mumbai and also sells on marketplaces like Amazon, Flipkart, Shopclues, Snapdeal, and others.