BlueStone.com, an online jewellery platform, confirmed its third round of VC funding, worth Rs 100 crore. The funding was led by Accel Partners, IVY Capital and Dragoneer, with participation from Kalaari Capital and Saama Capital. Avendus Capital served as an advisor for the transaction.
The company plans to use the raised funds for marketing to help build on to brand name and to expand its team. With the current revenue run rate of 80-100 Cr per annum, BlueStone has grown by 150% year on year.
Gaurav Singh Kushwaha, Co-Founder and CEO of BlueStone said, “Consumers are far more comfortable buying jewellery online today, than a year back. The eco-system in India has enabled trust in the eCommerce sector. I am confident about achieving over 200% growth every year for the next 2-3 years.”
Bluestone is a Bangalore-based company founded by IIT graduate Gaurav Singh Kushwaha and Vidya Nataraj. It sells jewellery targeted at women buyers with its own manufacturing, designs and delivery functions.
In September 2014, the company had raised an investment of undisclosed amount from Ratan Tata.