PE Fund Investments
Omnichannel jeweller BlueStone to raise $16.5 M from Innoven Capital, others
Omnichannel jewellery startup BlueStone is to raise around USD 16.5 million (INR 137.7 crore) in a mix of debt and equity. The startup has raised INR 100 crore in debt and INR 37.7 crore in equity funding (by allotting Series G compulsory convertible cumulative preference shares or CCPS) to investors including Innoven Capital (which invested via debt and equity) and other individual investors (who invested via equity).This comes close on the heels of BlueStone raising USD 9 million (about INR 75 crore) in debt from Trifecta Capital.Founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, BlueStone claims to offer more than 8,000 designs across rings, pendants, earrings and other products.The startup is also reported to be planning to raise INR 2,000 crore via an initial public offering (IPO). The IPO will comprise a fresh issue of shares as well as an offer-for-sale element, which will see existing shareholders together offloading 10-15% stake in the startup.
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