VivoCarat.com, an online jewellery marketplace, has raised $50,000 in its seed funding round from a group of individual investors. While the company announced the funding round today, it was actually raised last month.
The newly infused capital in the company will be used for product development and for hiring new talent in the team. The company is also planning to spend a significant amount of money on marketing efforts.
Founded in early 2016 by Ritesh Oza and Abhijith Shetty, Mumbai-based VivoCarat is an online marketplace of diversified jewellery brands that showcases products at an affordable price. It offers a range of new-age contemporary jewellery items, suitable for both special occasions as well as daily wear.
Ritesh Oza, CEO and Co-founder at VivoCarat.com, said:
Each product at VivoCarat is listed into collections considering the needs of the customers and sourced from group of handpicked jewelers renowned for their design excellence and aesthetics. We add a minimum of 100-150 new designs on the site every month and will continue to bring more varieties for customers across the country. VivoCarat has successfully managed to join hands with more than 30 reputed brands across Mumbai & other cities like Jaipur, Surat, Kolkata and New Delhi.
VivoCarat has successfully managed to join hands with reputed brands that deliver some of the best craftsmanship, believe in authenticity and innovative designs. Besides providing an online platform to the associated brands; it also helps accelerate their business by providing them a host of value added services.
The company is going to launch a new feature called ‘Jewellery LookBook’ in early 2017. The LookBook will reach out to the crowd and educate them with the latest news, jewellery in trend, tips, fashion nooks and much more. Ritesh says, “Although jewellery is big in India, the younger generation is not updated with the latest trends, or for that matter even the traditional designs. A piece of jewellery is valued for the story behind it and we want to be part of that story telling.”