Avendus Capital Advises Bluestone on Its Series D Fundraise.
BlueStone Jewellery and Lifestyle Pvt. Ltd (bluestone.com) has raised INR 200 crore Series D financing. The round was led by IIFL and Accel and also saw participation from IvyCap Ventures, Kalaari Capital and RB Investments. BlueStone will use the funds for marketing, building a wholesome designer ecosystem, strengthening its leadership position and continue creating a strong brand.
Avendus Capital was the exclusive financial advisor for this transaction.
BlueStone
BlueStone is India’s leading online-first jewellery brand. The company aims to democratize jewellery buying experience through high quality certified jewellery, large design repertoire across various ticket sizes and an “un-retail” browsing experience, all made possible through their unique full-stack business model.
India has always been a very attractive jewellery market, with a current size of $61 Bn growing at 12% annually. The societal changes as a result of rapid urbanization, global influence, working women are changing the jewellery buying contours. Availability of designs, choices is increasingly gaining significance, and the relationship is moving from family jewellers to branded retailers. The online jewellery market size is expected to reach over $1 Bn in the coming 3-4 years.
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