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Exclusive: Fireside invests in lab grown jewellery brand Aukera

EntrackrEntrackr · 1y ago
Exclusive: Fireside invests in lab grown jewellery brand Aukera
Medial

Lab-grown jewellery brand Aukera has raised Rs 26.7 crore (approximately $3.2 million) in its Series A round led by Fireside Ventures. This is the first institutional investment for a year-old omnichannel brand, which mostly deals in diamonds. The board at Aukera Jewellery has passed a special resolution to issue 10 equity and 8,155 Series A CCPS at an issue price of Rs 32,713 each to raise Rs 26.7 crore, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Fireside Ventures spearheaded the Series A round with Rs 23.75 crore while Sparrow Capital and Eternal Emerging Enterprises participated with Rs 1.39 crore and 1.57 crore, respectively. The company will use these funds for expansion and general corporate business, as decided by the board, the filing further added. As per TheKredible’s estimates, the company has been valued at around Rs 124 crore or $15 million post-allotment. This round appears to be an ongoing one and it may raise more capital. Following the fresh proceeds, Fireside Ventures holds a significant 19.20% stake in the company while Sparrow Capital and Eternal Enterprises will command 7.59% and 5.89% of Aukera Jewellery. With the fundraise, the company has also expanded its employee stock options pool with addition of 1,180 options. At present, its total ESOP pool consists of 1,896 options. According to TheKredible estimates, Aukera’s overall ESOP pool is worth Rs 6.20 crore. Founded in 2023, Aukera is a women-centric jewellery brand that offers lab-grown diamond jewellery in white, rose, yellow gold, and platinum. It sells its products through its website and has 2 stores in Bengaluru. The Bengaluru-based firm competes with a clutch of firms including Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

Beyond Appliances raises $4 Mn in Series A round led by Fireside Ventures

EntrackrEntrackr · 1d ago
Beyond Appliances raises $4 Mn in Series A round led by Fireside Ventures
Medial

Beyond Appliances raises $4 Mn in Series A round led by Fireside Ventures Smart kitchen technology company Beyond Appliances has secured $4 million in a Series A funding round led by Fireside Ventures along with participation from Dharana Capital. Prior to this, the Bengaluru-based startup raised $2 million in its seed round led by Fireside Venture in November 2024. The fresh funds will be deployed to scale its manufacturing capabilities, Beyond Appliances said in a press release. Co-founded in 2024 by Eshwar K Vikas and Rakesh Patil, Beyond Appliances allows users to access OTT apps, music, set reminders, and create grocery lists through integrated apps. The brand’s product portfolio includes Android chimneys, plug-and-play chimneys, and smart hobs & cooktops. According to the company, it is witnessing strong repeat rates and consistent month-on-month growth, with its flagship kitchen appliance range continuing to be the primary revenue driver. The company claims to have doubled its revenues post its seed round in November 2024 and now aims to strengthen its core product categories while expanding into new appliance segments, supported by its upcoming manufacturing capacity. Beyond Appliances’ products are currently available via its D2C website, on Amazon and Flipkart, and through multiple retail outlets in Bengaluru and Hyderabad. The startup now plans to expand its retail footprint across Bengaluru, Hyderabad, Mumbai, and Delhi through partnerships with leading offline retailers and modern trade outlets. It competes with other notable players in this space such as Faber, Elica, and Hafele.

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