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BlueStone raises $30M in Series D funding from new & existing investors

Online jewellery retailer BlueStone has raised Rs 200 crore ($29.7 million) in a Series D round of funding led by IIFL Holdings Ltd and existing investor Accel Partners with participation from new investor RB Investments and existing investors Kalaari Capital and IvyCap Ventures. The company, which was founded by Gaurav Singh Kushwaha (CEO) and Vidya Nataraj in 2011, intends to grow its revenue to Rs 1,000 crore by 2018 (from the current Rs 250 crore) and will use the funds to grow its merchandise. It plans to offer a total of 30,000 jewelry designs in the next 3 years from the current 5,000. In September last year, BlueStone appointed Arvind Singhal as its COO. Singhal previously worked as the CEO of online cab aggregator TaxiForSure, which was acquired by Ola in March 2015 for $200 million. Previous BlueStone funding Exactly a year ago, BlueStone raised $16 million in a round of funding from Ivy Capital and Dragoneer with participation from Accel Partners, Kalaari Capital and Saama Capital, for marketing and expand its team of 150 to 250 staffers. It had previously raised an undisclosed amount from Ratan Tata in September 2014, a $10 million investment in March 2014 from Kalaari Capital, Accel Partners and Saama Capital and $5 million from Accel Partners and Meena Ganesh in January 2012. Developments in the online jewelry sector in India: – Last week, we reported that Titan, which had announced that it would acquire a majority stake in CaratLane, has bought 62% in the…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

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