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Vermeil jewelry brand Trisu secures pre-seed funding round

EntrackrEntrackr · 11m ago
Vermeil jewelry brand Trisu secures pre-seed funding round
Medial

Vermeil jewelry brand Trisu has secured an undisclosed amount of investment in a pre-seed funding round co- led by All In Capital. JK Tyres, and Amaanta Group and angel investors like Himanshu Aggarwal and Sumer Sethi also participated in the round. The fresh funds will be used to enhance customer acquisition, drive product innovation, and support market expansion, Trisu said in a press release. Launched by Saloni Chopra in 2023, Trisu offers gold vermeil jewelry with 18-karat gold plating that is five times thicker than standard gold plating, using silver as the base metal. The company aims to provide long-lasting, affordable gold alternatives in India, particularly for individuals aged 30-60. The startup claims that its products deliver high quality at a fraction of the cost, allowing customers to enjoy jewelry that closely resembles solid gold without the high expense or risk of loss. It has a manufacturing facility in Jaipur. The Gurugram-based company says that its unique selling point is superior plating style. The chains segment is the company’s top revenue driver, followed by necklaces and bracelets.It plans to expand its presence across all marketplaces, including quick commerce platforms. Trisu also says that it has achieved 24x growth and attracted over 5,000 active users who appreciate its designs for their close resemblance to solid gold within eight months of operation. The company aims to generate $1 million (Rs 8 crore) in monthly recurring revenue by 2025 and open ten shops and five exclusive outlets by December 2026.

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Centricity, Trisu, GameEon and Dharaksha raise early-stage funding

VCCircleVCCircle · 11m ago
Centricity, Trisu, GameEon and Dharaksha raise early-stage funding
Medial

Wealthtech management company Centricity raised $20 million in a seed funding round led by Lightspeed, bringing its valuation to $125 million. The funding will be used to expand operations and double the tech development team. Biotech-driven R&D startup Dharaksha Ecosolutions secured $3 million in a seed funding round led by Avaana Capital to expand production capabilities and strengthen its presence in the sustainable packaging industry. Mumbai-based game development studio GameEon Studios raised $1 million to develop new games for PC and consoles. Vermeil jewelry brand Trisu raised an undisclosed amount in its pre-seed funding round to enhance customer acquisition and drive product innovation.

Exclusive: Giva raises $12 Mn from Premji Invest in extended Series B

EntrackrEntrackr · 11m ago
Exclusive: Giva raises $12 Mn from Premji Invest in extended Series B
Medial

Omnichannel jewelry startup Giva has raised Rs 100 crore ($12 million approximately) in an extended Series B round from Premji Invest. With this, the company has marked its first fundraise in 2024. Giva’s board has passed a resolution to offer and issue 68,028 Series B1 compulsorily convertible preference shares (CCPS) at a price of Rs 14,700 per share to PI Opportunities Fund II (Premji Invest). This marks the third investment by Premji Invest in the Bengaluru-based Giva. The family office of Wipro founder Azim Premji had previously led a Rs 270 crore Series B round in Giva in July last year. According to TheKredible’s estimates, Giva has been valued at approximately Rs 2,000 crore. This appears to be part of an ongoing funding round, and with the infusion of additional capital, the company’s valuation is expected to adjust accordingly. Following the fresh capital, the company has raised over $60 million to date from the likes of Aditya Birla Venture, A91 Partners and others. Giva, which initially launched as an affordable jewelry brand, has since expanded its offerings to include gold jewelry and lab-grown diamonds. In addition to its website and app, the Ishendra Agarwal-led company now operates around 110 physical stores across the country. Giva’s revenue from operations saw a significant growth of 96.4%, reaching Rs 165 crore in FY23. However, the company’s expenditure doubled, rising to Rs 212 crore in FY23. This sharp increase in costs led to a 2.36X spike in its losses which widened to Rs 45 crore in FY23. The company has not disclosed its FY24 numbers officially. Of late, the omnichannel jewelry space has garnered significant investor attention. Lab-grown jewelry brand Aukera recently raised Rs 26.7 crore (approximately $3.2 million) in its Series A round, while Vermeil jewelry brand Trisu secured an undisclosed amount in pre-seed funding. Giva competes with several notable players: Melorra, Bluestone, CaratLane, and a range of other funded and family-led brands.

Axilor bets on healthtech platform Alvye; four others raise early-stage funds

VCCircleVCCircle · 1y ago
Axilor bets on healthtech platform Alvye; four others raise early-stage funds
Medial

Indian healthtech startup Alyve Health has raised $5.5 million in a Series A funding round led by Axilor Ventures. The funds will be used for platform development, talent acquisition, and expansion of operations. Alyve Health offers health plans that cover a range of healthcare services, including doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships, and well-being. In addition to Alyve Health, generative AI startup Ayna raised $1.5 million in seed funding, consumer brand Rockit secured $719,299 in pre-seed funding, drinking water brand Wahter raised $599,359 in pre-seed funding, and proptech startup Landeed raised an undisclosed amount in a strategic funding round. Fintech startup LEO1 also announced an undisclosed funding amount from Indian cricketer Rohit Sharma.

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