PE Fund Investments
Jewellery e-tailer BlueStone to raise Rs.550-Cr from Ranjan Pai, Nikhil Kamath, Info Edge, others
Bengaluru-headquartered jewellery e-tailer BlueStone is to raise INR 550 crore from a clutch of high net worth individuals, startup founders and institutional investors. Ranjan Pai, chairman of the Manipal Group, Info Edge Ventures and Zerodha co-founder Nikhil Kamath will be investing INR 100 crore each. The remaining INR 250 crore will be raised from IIFL, Zomato founder Deepinder Goyal, CarDekho founder Amit Jain, and other existing backers. The company plans to use the funds for expansion and for opening new offline stores. In March 2022, BlueStone raised USD 30 million from the family office of Sunil Kant Munjal at a valuation of USD 378 million. The 12-year-old company offers gold and diamonds jewellery through its retail outlets and online store. BlueStone's operating revenue surged 88.2% to INR 461 crore in FY22 and losses rose by 90% to INR 59 crore in the same period.
From the Venture Intelligence PE-VC Deal Database: Between Jan 2012 and Mar 2022, BlueStone had raised funding from Iron Pillar, RB Investments, IvyCap Ventures, IIFL AMC, Saama Capital, Accel India, Kalaari Capital, Dragoneer Investment Group, Obor Capital, InnoVen Capital, Ratan Tata, AT Capital and Munjal Family Office (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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