Eternz Secures $1.15 Million in Pre-Seed Funding to Revolutionize Online Jewellery Shopping

• ByStartupStory     |    May 8, 2024

Eternz, an emerging curated vertical marketplace for jewellery, has successfully raised $1.15 million in a pre-seed funding round. The round was led by Kae Capital and saw participation from Gemba Capital, IIMA Ventures, TDV Partners, and Venture Lab. The platform, which offers an exclusive selection of high-quality jewellery from both national and international brands, aims to transform the online jewellery shopping experience through innovative technology.

Founded by Arthi Ramalingam, an alumna of IIM Ahmedabad with a background at Udaan, Eternz addresses the significant challenges of trust and discovery that consumers encounter when buying jewellery online. “As a platform, we are solving for trust and discovery that consumers face while purchasing jewellery online,” said Ramalingam. “There is a huge trust deficit online and consumers shy away from buying even if they like the designs. At Eternz we want to be the go-to trusted platform for jewellery purchases.”

The funding will be utilized to expand Eternz’s offerings, including an increase in their fashion and silver jewellery collections and plans to incorporate gold and diamond pieces. The company also aims to target urban customers across India and establish partnerships with international brands, enhancing their reach and distribution.

Highlighting the strategic vision behind the investment, Sunitha Viswanathan, Partner at Kae Capital, commented on the evolving market dynamics: “Jewellery has become one of the strong pillars in the fashion industry. While in India, bridal jewellery historically has driven growth, we are now seeing Millenials and Gen Z purchase jewellery for daily wear. Jewellery wear is no longer restricted to only occasions.” Viswanathan praised Eternz’s business model, stating, “We liked Eternz’s approach of a curated vertical marketplace offering customers a trusted and unique experience. We believe they will become the platform of choice for brands looking to scale their online presence.”

In addition to its online platform, Eternz plans to launch an offline experience center to provide a tactile jewellery buying experience for consumers, further bridging the gap between online convenience and offline authenticity.

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