Melorra raises $12.5Mn from Symphony Asia, Lightbox Ventures, Alteria Capital, others
Melorra, a Bengaluru-based jewellery startup, on Wednesday announced that it has raised $12.50 mn in funding from Symphony Asia, Lightbox Ventures and Alteria Capital.The startup said the funds will be used for technological innovations, product innovations, and marketing.
Melorra has been into the lightweight gold jewellery segment ever since it started operations in 2016. The company claims that it has been recording accelerated growth in order value and numbers ever since the lockdown was lifted. The brand has witnessed a 4X increase in both organic and direct traffic compared to last Diwali and the ASP (average selling price) has grown by 40% compared to pre-Covid levels, it said.
“Melorra is operating at positive unit economics and rapidly regaining its pre-COVID-19 level revenues. This can be attributed to the fact that we are a leader in the daily wear lightweight, trendy jewellery segment. The added benefit during the pandemic is that we are available online which helps us address the customer concerns around trust and safety,” said Saroja Yeramilli, Founder and CEO, Melorra.