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Jewellery brand Melorra receives $ 5 m funding from Lightbox; largest early stage investment in the country
Bengaluru based online jewellery brand Melorra.com has raised USD 5 million (about Rs 33 crore) from Lightbox Ventures, making it the largest early stage investment in the country. The brand caters to modern Indian women by developing, designing and retailing contemporary jewellery through a mobile platform. Melorra.com was founded by former Titan Industries and Dell senior executive Saroja Yeramilli and R Krishnakumar who worked for nearly two decades across Titan Industries, Arvind Lifestyle and Mahindra Retail.
Melorra.com has about 40 employees, and an inhouse design team. The company follows an order-based inventory model and will outsource its supply chain and delivery to Sequel Logistics that handles high security deliveries. Once an order is placed, the delivery of jewellery will take 5-7 days. Melorra.com is the fifth investment for Lightbox Ventures from its second fund that has USD 100 million corpus.