Retail in Asia

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Retail jewellery marketplace Joolz raises $500K funding

Joolz Retail in Asia

Joolz, an online jewellery community and a marketplace that facilitates jewellery retail, has taken the Indian jewellery industry by storm. The enterprise has recently raised USD 500K funding as a part of its Pre Series A round from ah! Ventures and others.

This current seed round was also led by Mahesh Ahuja – CEO, Brittman India, Sri Peddu – MD, Powerhouse Ventures, M&S Partners, Deepak Kasthwal – ex- CFO, OLA Cabs, PKX Thomas – ex Technology Head, Cleartrip, Neha Shah and angel round by GSF Accelerator.

Online jewellery in India is seeing rapid growth signs in recent times. But that is mostly focused on smaller ticket items ranging between INR 15,000 and INR 30,000. The Indian consumer has been buying jewellery in a certain way for the last decades, and for traditional and larger ticket items, this is not bound to change soon.

Through Joolz, Founder Arnaud Lorie is looking to help consumers discover prices and options online and facilitate the offline process of buying the jewellery.

Founded in May 2015 with total team of 9, Joolz is an India-focused community and marketplace that brings together leading jewellery brands on a single platform. The startup aggregates and curates high-quality jewellery inventory and offers its consumers an unmatched discovery and shopping experience.

Joolz is more than just an online sales platform, it enables two-way interaction between jewellery buyers and sellers through discussion, discovery and education. It is accessible as a smartphone app on Android and iOS platforms and on www.joolz.in.

(Source: BW Disrupt)