Jewellery and accessories e-tailer BlueStone had raised an investment of $10 million. This round of funding was led by venture capital firm Kalaari Capital and existing investors including Accel Partners and Saama Capital also participated.

BlueStone will use the funds raised to focus on marketing and brand-building. Gaurav Kushwaha, co-founder and CEO of BlueStone, said, "A significant portion of the funds would be used to establish Bluestone as the leading online jewellery store in the next two years."

BlueStone was founded by Vidya Nataraj and Gaurav Singh Kushwaha. Kushwaha was the co-founder and CEO of Chakpak.com, which was acquired by FlipKart in November 2011. BlueStone will reach sales worth Rs. 40 crore this March and expects to double this amount in the next financial year, reported TOI.

Co-founder Vidya Nataraj, said, "Once trust is built with confidence-building measures such as international certification and easy return and buyback policies, customers are comfortable to buy online."

As reported by India Digital Review, BlueStone had attracted an initial investment of $5 million from Accel Partners and serial entrepreneur Meena Ganesh, CEO and MD of Pearson Education Services, back in January 2012.