PE Fund Investments
E-jeweller BlueStone raises $30-M led by Sunil Munjal's family office
Bengaluru-based omnichannel jewellery retailer BlueStone has raised over USD 30 million in funding at a valuation of USD 410 million, led by the family office of Sunil Kant Munjal, Chairman, Hero Enterprise. With this round of funding, Bluestone is planning to step up its manufacturing and technology capabilities. Moreover, the company is focusing to bring product differentiation, add offerings and expand its omnichannel capabilities. The company currently has around 70 stores and plans to launch 100 more stores in the next fiscal year, with a cumulative footprint of 300 stores projected by 2024. It is planning an initial public offering (IPO) of INR 2,000 crore by FY23. Founded in 2011, BlueStone is backed by investors including Ratan Tata, Accel, Kalaari, Iron Pillar, IvyCap and Saama Capital.
From the Venture Intelligence PE-VC Deal Database: Between Jan-12 and May-20, BlueStone raised funding from Iron Pillar, IvyCap Ventures, IIFL VC, Saama Capital, Accel India, Kalaari Capital, RB Investments, Obor Capital, Dragoneer Investment Group, InnoVen Capital, Ratan Tata, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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