Joolz a Mumbai based jewellery community has raised $493k in its Pre Series A round of funding from Ah! Ventures. Other investors participates in this round include Sri Peddu- MD at Powerhouse Ventures, M&S Partners, Mahesh Ahuja- CEO at Brittman India, PKX Thomas ex-Technology Head at Cleartrip, Deepak Kasthwal- ex-CFO at Ola Cabs, Neha Shah and GSF Accelerator.
The funds will be used to boost marketing, products, operations and to build up the team.
It was founded in 2015 by Arnaud Lorie and Eli Atlas. It is a virtual mobile jewellery store. Its not only a sales platform, it includes interaction, discussion, feedback and analysis. It aims to allow the customers to discover prices and options online and facilitate offline process of buying jewellery.
The startup has around 35 jewellers with a mix of both offline and online retailers, and they have been focused on small ticket jewellery items which ranges from Rs 10k – Rs 25k. It claims to have registered sales upto Rs 3 lakh. It is accessible through its website and on both iOS and Android platform.
Arnaud Lorie co-founder of Joolz said,
“Buying jewellery is so closely intertwined with Indian culture that the act of simply selling it online is not going to create any significant impact in the market. We, therefore, want to be the single biggest facilitator of jewellery commerce, whether online or more importantly, offline.”