Melorra has raised $12.5 million in funding as the online daily wear jewellery maker aims to double down on its marketing spend amid a surge in demand from smaller towns during the pandemic.
Symphony Asia, one of Asia’s first private equity firms, led the fresh funding worth $10.5 million. Alteria Capital—a venture debt fund—joined in as a new investor, infusing another $2 million as part of debt financing, Saroja Yeramilli, founder and chief executive officer at Melorra, told BloombergQuint over the phone.
Existing investors such as Lightbox Ventures and family offices of Burman—the private investment arm of promoters of Dabur India—and the Jeejeebhoy family office, too, participated in the fundraise, according to a company statement.
“Over the past four months, they [Melorra] have turned the business on its head, in what’s been nothing short of a master class,”…