SUMMARY
The startup plans to raise around $12 Mn of the $16.5 Mn in debt from Innoven Capital
BlueStone intends to utilise the capital for its business operations and to fund its expansion plans.
Recently, it was reported that BlueStone was looking to raise around $65 Mn from investors, including Nikhil Kamath, at a valuation of $440 Mn
Omnichannel jewellery startup BlueStone is looking to raise around $16.5 Mn (INR 137.7 Cr) in a mix of debt and equity. Recently, the startup’s board passed two separate resolutions to raise INR 100 Cr debt and an equity funding of INR 37.7 Cr by allotting Series G compulsory convertible cumulative preference shares (CCPS) to its investors.
While the debt would be raised from Innoven Capital, the equity capital would be raised from Ashwin Kedia, Sankar Bora, Innoven Capital India, among others.
The startup intends to utilise the fresh funds for its business operations and expansion plans.
A query mail sent to BlueStone on the fresh fundraise…