Friday, July 10, 2015

#BlueStone bags Rs.100 cr. VC funding

Online jewellery retailer has raised a Series C round of INR 100 crores ($16 million) funding from IvyCap Ventures, Accel Partners, Dragoneer Investment Group, Kalaari Capital and Saama Capital. will use the funds for marketing, strengthening its technology platform, creating a strong brand.BlueStone is run by Bangalore-based Jewels Online Distribution India Pvt Ltd and has a current revenue run rate of Rs 80-100 crore per annum."I am confident about achieving over 200 per cent growth every year for the next 2-3 years,” said Gaurav Singh Kushwaha, co-founder and CEO of BlueStone.Avendus Capital was the exclusive financial advisor for this transaction.