Jewellery start-up Melorra on Wednesday announced it has raised $24 million (around Rs 180.5 crore) to enhance technology capabilities, ramp up brand marketing and expand its experience centre footprints across the country.
The fund was raised in a round led by 9Unicorns, Symphony International Holdings Ltd, Value Quest, Venture Catalysts, Param Capital and family offices, the company said in a statement.
"...this funding comes as an affirmation that we continue to lead in the right path," Melorra founder and CEO Saroja Yeramilli said in a statement.
The company said it aims for $1 billion (more than Rs 7500 cr) in revenue in the next five years. Melorra is also currently spearheading a campaign to educate consumers about the importance of buying BIS-hallmarked gold jewellery in India.
Currently, the company delivers hallmarked gold to all districts in the country.
Going forward, Melorra also has plans to launch its international website.
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