Bangalore-based online jewellery designer and retailer Melorra has closed its first round of funding at $5 million (about Rs 33.4 crore) venture capital firm Lightbox, making this one of the largest ever seed rounds raised by an Indian venture in recent times.
Founded by former Tanishq and Dell senior executive Saroja Yeramilli in 2015, Melorra caters to urban Indian women, by developing, designing and retailing contemporary jewellery through its mobile app.
"There is a huge gap in the market, which we feel, Melorra is perfectly positioned to fill and grow. The online jewellery segment has remained under-served for some time now, and Melorra can play a massive role in meeting the needs of the urban millennial segment," said Sid Talwar, partner at Lightbox.
Parabo Press is a breeze to use: It’s clean and easy to read, your options are straightforward, and there are no annoying upsells. Prints from its Risograph machine, which uses soy-based ink and is described by Parabo as having “a cult following since its invention in 1980s Japan.”
“We are creating solutions specifically for the Indian rental community. For Aibnb, we are creating a separate set of packages, more attuned towards travellers, which will allow the hosts to pick and choose from these packages and furnish their house,” Ajith Karimpana
The Make in India programme needs design, in order to succeed in its fundamental endeavour. Melorra has integrated design and manufacturing with processes, people working in manufacturing are involved in product design concepts as a result delivery times are almost half those of competitors.
Red Chillies Entertainment partnered with Furlenco for its forthcoming Shah Rukh Khan and Alia Bhatt starrer ‘Dear Zindagi’. Furlenco and Red Chillies have also launched a TVC and an exclusive ‘Dear Zindagi’ store for the movie buffs.
Sub-cultures drive the products that emerge out of tech startups. Sub-cultures push the envelope on thinking about how society might develop. The ones that interest investors are those with the potential to indicate where the world could go next.
It is a combination of 50% equity and 50% debt, making them one of the largest debt funded start-ups in India. While Furlenco plans to utilise the equity component to grow its business into more cities, the debt will be used to purchase inventory.
Droom has clocked a GMV of Rs 104 crore in a short span of 19 months. They have registered over Rs 1,200 crore in annualised GMV, with plans to achieve Rs 3,000 crore by March 2017. The achievement has come despite low marketing spends at 3.75 per cent of the entire GMV.