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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.

Exclusive: FableStreet parent FS Life to raise $4 Mn in Series B

EntrackrEntrackr · 20d ago
Exclusive: FableStreet parent FS Life to raise $4 Mn in Series B
Medial

Exclusive: FableStreet parent FS Life to raise $4 Mn in Series B FS Life, the parent company of D2C women's fashion brand FableStreet, is raising Rs 35.54 crore (around $4 million) led by Colossa Ventures with the participation of existing investor Fireside Ventures and others. FS Life, the parent company of D2C women's fashion brand FableStreet, is raising Rs 35.54 crore (around $4 million) led by Colossa Ventures with the participation of existing investor Fireside Ventures, HirePro Consulting, ASA Holdings, NKA Resources and other angel investors. This is the first fundraise for the company in 3 years since it raised Rs 50 crore in its pre-Series B round led by Fireside Ventures. The board at FS life passed a resolution to issue 10,282 Series B compulsory convertible preference shares at an issue price of Rs 34,568 each to raise the aforementioned sum, as per its regulatory filing with the Registrar of Companies (RoC). Colossa Ventures, through its Colossa WomenFirst Fund, will lead the round with an investment of Rs 10 crore, followed by Fireside Ventures with Rs 7 crore. ASA Holdings and HirePro Consulting will contribute Rs 3 crore and Rs 2.5 crore, respectively. A group of angel investors, including Rahul Garg, Rahul Kayan, and others, will also participate in the round. The company has already received Rs 9.44 crore from the above round in July from Fireside Ventures, Mirabilis Investment Trust, and others, with the remaining amount expected to be received soon. According to Entrackr's estimates, FS Life’s valuation remained flat at Rs 370 crore or $42 million post-money. Founded in 2015 by Ayushi Gudwani, FS Life is a house of women’s apparel and lifestyle brands, including FableStreet, March Jewellery, and Pinkfort. FableStreet focuses on western wear with an emphasis on perfect fits, March offers sterling silver and semi-precious jewellery, while Pinkfort caters to modern Indian wear with a contemporary take on traditional styles. According to startup data intelligence platform TheKredible, the Gurugram-based company has raised over $9.5 million to date, with Fireside Ventures as its lead investor. The company is yet to disclose its FY25 financials. In FY24, it recorded over 40% year-on-year growth in operating revenue, while its losses widened by 70% to Rs 17 crore during the same period. FS Life competes with other D2C fashion and jewellery brands such as NEWME, which raised $18 million in July last year, as well as FabAlley, Fashor (ethnic wear), and jewellery startups like GIVA and Palmonas, among others.

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

EntrackrEntrackr · 2m 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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