BlueStone raises $30 million in a round led by Hero Enterprises
Summary
BlueStone is backed by investors including Ratan Tata, Accel, Kalaari, Iron Pillar, IvyCap and Saama Capital. Gaurav Singh Kushwaha, Founder and CEO, BlueStone, stated, “Hero Enterprise has had a long history of helping brands scale up and achieve their full potential. With this round of funding, we aim to further strengthen our omnichannel presence to provide a seamless and user-friendly experience to customers who want to utilize both our online and offline platforms to buy jewellery for themselves and their loved ones.” The jewellery retailer said it expects to close the current fiscal year ending March 2022, with revenue of ₹500 crores, clocking a growth of 85 per cent over the previous fiscal year, with break-even achieved. The investments made in the business model and products give BlueStone an edge over the competition.” Sameer Nath, Co-Founder and Managing Partner of Iron Pillar added that at $80 billion, the Indian jewellery market is almost the same size as that in the US. “Given the massive TAM (total addressable market) at play, BlueStone has a unique opportunity to sustain its growth trajectory and scale to its full potential,” he said..
Funding
Classifications
AskAI Classifications
LabelsLinked Companies
