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Voylla secures $15M from Peepul Capital

Online jewellery store Voylla.com has raised $15 million in a fresh round of funding from Peepul Capital. The platform will use the funds for brand building, expanding its distribution network, investing in technology and increasing its manufacturing capabilities. As of now Voylla manufactures jewellery under the ‘Voylla’ brand and sells it via its own web portal, over 30 other online marketplaces and 3 of its own physical stores. The company mentions that it will look to expand its physical store network ‘significantly’, while also entering international markets. Brick & mortar stores: Interestingly, Voylla had said in October last year that it would open 10 brick and mortar stores across the country by the end of the year, including its first outlet at Nagpur central mall, however, as of now it seems to have only 3. Note that, it's not clear if the platform will use a franchisee model for its brick and mortar stores, or look to launch its own stores. Voylla currently claims to have a database of over 35,000 unique designs with 300-500 new designs added every week. As of now, it also claims to have served over 200,000 customers in India. Prior to this, Voylla raised Rs 2.5 crore angel investment from Snow Leopard Technology Ventures in May 2013. It had also raised Rs 1 crore angel funding from a group of investors in October 2012 from undisclosed investors. Founded in 2011 and launched as an online apparel store in May 2012, the platform later pivoted to focus…

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