Total amount raised
$613.7 Millions
Latest funding date
8/1/2023
Location
CaratLane has successfully raised funding through multiple rounds, with notable investors including Titan Company and Tiger Global Management. The company has leveraged these investments to expand its offerings and enhance customer-centric services.
Keep reading to explore the intricacies of CaratLane's fundraising journey and the investors backing this innovative platform.
What Is CaratLane?
CaratLane, founded in 2008 in Chennai, Tamil Nadu, India, is an online jewelry store that aims to revolutionize the way diamonds and diamond jewelry are bought in India. The company was established by Avnish Anand, Gurukeerthi Gurunathan, Mithun Sacheti, and Srinivasa Gopalan.
CaratLane offers a wide range of products and services, including loose diamonds, diamond jewelry, and various customer-centric services like Try at Home, Lifetime Exchange, and Lifetime Buyback. They also provide international shipping and have a rewards program called xCLusive Points.
With a workforce of 1001-5000 employees, CaratLane continues to grow and innovate in the jewelry industry, leveraging its partnership with Tanishq to ensure trust and quality in its offerings.
How Much Funding Has CaratLane Raised?
- Series A
- Amount Raised: $6M
- Date: June 2011
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong market presence and scale operations.
- Series B
- Amount Raised: $6M
- Date: January 2012
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and enhance customer service capabilities.
- Series C
- Amount Raised: $15M
- Date: May 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and invest in technology.
- Series D
- Amount Raised: $31M
- Date: January 2015
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Secondary Market
- Amount Raised: ₹46.2B ($556M)
- Date: August 2023
- Lead Investors: Titan Company
- Valuation at Round: $2B
- Motivation Behind the Round: To solidify Titan's control and support CaratLane's growth under the Tata Group.
Total Amount Raised: $614M
Current Valuation: $2B
Key Investors
- Titan Company
- Details: Titan Company is a prominent Indian consumer goods company known for its watches, jewelry, and eyewear. It is a part of the Tata Group, one of India's largest and most respected business conglomerates.
- Investment Focus Areas: Consumer goods, jewelry, watches, eyewear.
- Notable Investments: Tanishq, Mia, Zoya.
- Tiger Global Management
- Details: Tiger Global Management is a global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. The firm is known for its investments in high-growth technology companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Flipkart.
What's Next for CaratLane?
With Titan's increased stake in CaratLane, the company is poised to leverage the extensive resources and market reach of the Tata Group. This strategic backing opens up significant opportunities for CaratLane to expand its footprint in both Indian and international markets, enhancing its position as a leading digitally native omni-channel jewelry brand.
Future fundraising opportunities may arise as CaratLane continues to grow, although the strong financial support from Titan reduces the immediate need for external investments. However, the company will need to navigate challenges such as integrating operations with Titan's broader business goals and maintaining its unique brand identity amidst competitive pressures in the jewelry market.
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