Online Jeweller Caratlane secures $31M in Series D round from Tiger Global

caratlane

Chennai based online jewellery portal Caratlane.com, has secured $31 million (Rs 192 crore) in Series D round of funding from existing investor Tiger Global.

Caratlane deals in gold, silver and diamond jewellery.

Previously, the firm received USD 15 million in series C and USD 6 million in series A. Including this round, Caratlane had secured a total capital of USD 52 million. Caratlane closed FY14 with total income of RS 98 crore with Rs 37 crore net loss. Its loss almost doubled while top-line rose some 22 per cent over the year ended March 31, 2013.

The company was founded in 2008 by Srinivasa Gopalan and Mithun Sacheti. The latest transaction easily makes it the most funded player in its business.

The other player in the same space include Bengaluru-based Bluestone, which raised funding from Accel Partners, Kalaari and Saama Capital as well as a separate recent funding from Tata Sons’ chairman Ratan Tata.

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