Drip Project, a jewellery brand, is acquired by MetaMan
- ByStartupStory | January 4, 2023
Tuesday saw the launch of men’s jewelry startup MetaMan, which announced its acquisition of Mumbai-based luxury jewelry firm Drip Project for $1 million (around Rs 8 crore).
The company, which is based in Bengaluru, claimed in a statement that the acquisition will increase its presence in the online jewelry market.
Harsh Maskara and Rohit Golia established the hip-hop jewelry company Drip Project in 2021. With this transaction, Maskara will join as a co-founder of MetaMan and Golia will become a member of the advisory board.
In November of last year, Anil Shetty and Raunak Samdaria introduced MetaMan. Actor Suniel Shetty, Nikhil Kamath of Zerodha, Prashanth Prakash of Accel Partners, and cricketer KL Rahul are among its investors.
The company pledges to raise men’s fashion standards and plans to release over 100 new goods this year.
“At MetaMan, we aim to accessorize men through our designs. This acquisition diversifies our businesses and extends our footprint, opening the door to growth and innovation,” said Shetty.
“Drip Project started as a passion project in our living room. It’s rewarding to see how, in just 10 months, we paved our way to the forefront of the segment and became a name synonymous with hip-hop jewelry,” said Maskara and Rohit Golia.
Among the other participants in this sector are Carat Lane, Bluestone, Melorra, and Kushal’s.
Last year, Bengaluru-based Kushal’s Retail Pvt. Ltd., an omni-channel retailer of fashion jewelry, received $11 million from a domestic private equity fund called Motilal Oswal Private Equity.
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