Melorra, a new online jewellery retailer, has raised seed funding worth $5 million from Lightbox Venture's second fund. Melorra was founded by Saroja Yeramilli last year and plans to use the funds for its technology platform, marketing and hiring. According to an ET report, the company currently has 40 employees and claims to work with 10 jewellery manufacturers across the country. It also states that Melorra has office and warehouses in Mumbai and Jaipur. The company currently has an iOS app and plans to release an Android app this month, aimed at the millennial urban Indian woman. Developments in the online jewellery sector: - In December, Delhi based online jewellery store Fourseven raised Rs 3 crore in a round of funding from Indian Angel Network to expand its team, increase its product range and invest in technology. - In October, online jewellery store Voylla raised $15 million in a fresh round of funding from Peepul Capital. Voylla manufactures self branded jewellery and sells it via its own web portal, over 30 other online marketplaces and 3 of its own physical stores. In October 2014, Voylla had said that it would open 10 brick and mortar stores across the country by the end of the year, however, as of October 2015 it seemed to have only 3. - In July, online jewellery store BlueStone raised $16 million in a round of funding from Ivy Capital, Dragoneer and participation from existing investors Accel Partners, Kalaari Capital and Saama Capital. It had previously raised an…
