Online Jewellery Marketplace Raises $1.5 Million


June 29, 2016: In a second round of funding led by Uniqorn Ventures Fund, with participation from investors TV Mohandas Pai and S Somasegar through online deal-making platform LetsVenture, Online jewellery marketplace has raised $1.5 million in a second round of funding.

VelvetCase will utilize the funding to expand its technology, marketing and seller acquisition services, the company said. “The intersection of jewellery domain knowledge with experience of building cutting-edge technology is very rare to find and build, and we have done it reasonably well at VelvetCase,” said Kapil Hetamsaria, CEO of VelvetCase.

The core team has been strengthened by hiring senior executives from the likes of Amazon, MakeMyTrip & Pepperfry over the last three months.

The company had raised $1million (Rs 6 crore) in a funding round led by Chennai Angels and other angel investors, including Jacob Kurian, partner at New Silk route Advisors, Arihant Patni, cofounder of Nirvana Venture Advisors, and Jerry Rao, former CEO of software company MphasiS in 2014.