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Online jewellery portal Bluestone.com raises $100 Cr from IvyCap Ventures, Accel Partners, others

Bengaluru-based
online jewellery company BlueStone has raised Rs 100 crore from a clutch of
investors led by IvyCap Ventures, Accel Partners and Dragoneer Investment
Group. 

Bengaluru-based
online jewellery company BlueStone has raised Rs 100 crore from a clutch of
investors led by IvyCap Ventures, Accel Partners and Dragoneer Investment
Group. 

According
to an Economic
Times
report, existing investors Kalaari Capital and Saama Capital also
participated in this third round of venture funding. The proceeds will be used
to fund expansion and build the brand, Gaurav Kushwaha, CEO and cofounder, told
the Economic Times. 

Ratan
Tata backed startup had raised Rs 80 crore put together in the previous two
rounds – Series A and B. “Raising our initial rounds was difficult, but
this round was a cake walk for us,” Kushwaha, an IIT-Delhi alumnus, was
quoted in the report as saying.

It
was Kushwaha’s IIT tag that attracted IvyCap Ventures to the company, Vikram
Gupta, founder and managing partner of the venture capital firm, said in the
report. 

Last year, former Tata Group chairman Ratan
Tata had made a personal investment in Bluestone. Ratan Tata, now chairman
emeritus of Tata Sons, the holding company of the $100 billion steel-to-software
Indian conglomerate, had subscribed to fresh shares of the three year-old
e-commerce player which sells jewellery for women. 

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