Melorra raises USD 24 mln for expansion

Jewellery start-up Melorra on Wednesday announced it has raised USD 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.

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The company said it aims for USD 1 billion 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.