Mabel, India's first jewellery marketplace raises $1.5 Million in Seed funding
MUMBAI, India, Dec. 13, 2022 /PRNewswire/ — Mabel, India’s first one-stop jewellery shopping platform, has raised $1.5 Million in Seed financing led by Whiteboard Capital, Sauce VC & Incubate Fund. The company will utilise the funding for developing its product & scaling teams across all domains. The Mabel platform is already live & shipping across India and aims to launch worldwide shipping in the coming months.
Founded in June 2022 by Anubhav Barsaiyan, Aashish Garg, and Milind Sharma, Mabel is targeted towards customers desiring top brands and designer labels. A curated marketplace with 50+ brands and over 10,000+ designs, Mabel offers endless options across traditional and contemporary styles and all material types, from fine to fashion. The platform has exclusive designs for several occasions and covers styles for different budgets. It also aims to enable traditional offline brands to be discovered digitally, eventually increasing sales.
Milind Sharma, Co-founder of Mabel, commented, “We aim to build Mabel to be an engaging and seamless shopping platform for the customers and elevate Indian brands to serve a global audience. With this platform, we desire to disrupt the online jewellery shopping experience through brand and product discovery. We will enhance the customer experience by leveraging virtual try-on & AR, bridging the gap between offline and online buying experiences. We are delighted to have the backing and confidence of our investors to help us achieve our vision. While we are currently live in India, we are focusing on going live across the globe shortly.”
Quotes from the investors
Manu Chandra, Founder & Managing Partner at Sauce VC, commented, “We view jewellery as a $100 billion market driven by curation and trust. India is home to tens of thousands of exceptional boutique and scaled brands. The same consumer shops from different formats for different use cases like weddings and festive, office wear, or casual wear. We believe Mabel can be a one-stop online platform for jewellery that uses technology to offer consumers a wide range of intelligent recommendations and trust.”
Anshu Prasher, General Partner at Whiteboard Capital, said, “As a Fund, we have strongly believed in the possibility of creating large consumer-first vertical brands solving specific problems faced by shoppers. For a category like jewellery that is high on the width of applications/needs and multiple considerations for selection, the supply side is driven by individual brands, making discovery and quality curation a significant difficulty. We are excited by the Mabel team’s vision of solving this complicated problem by becoming the destination for high-quality jewellery discovery and curation. We look forward to this journey as they continue to execute and grow profitably.”
About Mabel:
Mabel is a one-stop jewellery shopping marketplace that offers multiple hand-selected brands covering all jewellery designs and different metal types for all occasions. The company started in June 2022 and went live in September 2022 for customers. Currently, Mabel has over 10,000+ designs live from over 50+ brands and shipping to 20K+ pincodes in the country. It offers genuine products, easy exchanges & returns, free and insured doorstep delivery, 24×7 customer support, jewellery tracking, ease of paying cash on delivery and a hassle-free shopping experience.
For more details, please visit www.mabel.jewelry
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