Velvetcase.com raises $1.5 million in second round of funding

Online jewellery marketplace VelvetCase.com has raised $1.5 million in a second round of funding led by Uniqorn Ventures Fund, with participation from investors TV Mohandas Pai and S Somasegar through online deal-making platform LetsVenture. VelvetCase will use the money to expand its technology, marketing and seller acquisition services, the company said. “The intersection of jewellery […]

VelvetCase will use the money to expand its technology, marketing and seller acquisition services, the company said. “The intersection of jewellery domain knowledge with experience of building cutting-edge technology is very rare to find and build, and we have done it reasonably well at VelvetCase,” said Kapil Hetamsaria, CEO of VelvetCase.

Over the last three months, the core team has been strengthened by hiring senior executives from the likes of Amazon, MakeMyTrip & Pepperfry, he said.

In 2014, the company had raised $1million (Rs 6 crore) in a funding round led by Chennai Angels and other angel investors, including Jacob Kurian, partner at New Silk route Advisors, Arihant Patni, Co-Founder of Nirvana Venture Advisors, and Jerry Rao, former CEO of software company MphasiS.

Source: The Economic Times