August Jewellery Pvt. Ltd. raises $10.5 million in equity funding led by Symphony Capital, alongside a $2 million venture debt round from Alteria Capital, to enhance its technological capabilities and marketing efforts in the rapidly evolving online jewellery market.

Target Information

August Jewellery Pvt. Ltd., operating under the brand name 'Melorra', has successfully raised $10.5 million in equity funding, facilitated by Merisis Advisors. This funding round was backed by Symphony Capital, a private equity fund based in Hong Kong, along with participation from family offices and existing investors. Additionally, Melorra has secured a $2 million venture debt round from Alteria Capital.

Founded in 2016 by Saroja Yeramilli, who possesses over two decades of experience in brand building with notable consumer brands such as Titan, Tanishq, Kaya, and Dell, Melorra has quickly emerged as a leading player in the online jewellery sector. The company specializes in fashion-forward daily-wear jewellery aimed primarily at millennial women. With over 85,000 customers across 1,650 towns in India, Melorra stands as the largest online jewellery retailer in the country, offering a diverse range of products including rings, earrings, pendants, chains, solitaires, and gold coins.

Industry Overview in India

The Indian jewellery market is evolving rapidly, with a notable shift towards online retail, particularly accelerated by recent global events such as the COVID-19 pandemic. Consumers are inc