Mabel, a jewellery e-commerce platform secures $1.5 million in seed funding

• ByStartupStory     |    December 9, 2022

Whiteboard Capital, Sauce VC, and Incubate Fund led a $1.5 million seed fundraising round for Mabel, India’s first one-stop jewellery purchasing portal. The cash will be used by the company to scale teams across all domains and develop its product. The Mabel platform is already operational, shipping throughout India, and it plans to start exporting internationally in the upcoming months. 

Anubhav Barsaiyan, Aashish Garg, and Milind Sharma founded Mabel in June 2022 with the intention of catering to consumers seeking premium brands and trendy clothing. Mabel is a carefully chosen marketplace with more than 50 businesses, 10,000+ designs, and offers countless alternatives in both traditional and modern styles and all kinds of materials, from fine to fashion. The site offers unique designs for various events and offers a range of price points. It also seeks to make it possible for well-known offline brands to be found online, which should lead to higher sales. 

“We intend to grow Mabel to be an engaging and smooth purchasing platform for the customers and elevate Indian brands to reach a worldwide audience,” said Milind Sharma, co-founder of Mabel. Through brand and product discovery on this platform, we hope to revolutionise the online jewellery purchase process. By utilising virtual try-on and augmented reality, we will improve the customer experience and close the gap between the physical and online purchasing processes. We are thrilled that our investors believe in us and are willing to support us in realising our goals. While we are currently living in India, our attention is on soon going live everywhere.

“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 options,” said Manu Chandra, Founder and Managing Partner at Sauce VC.

General Partner at Whiteboard Capital Anshu Prasher stated, “As a Fund, we have passionately believed in the idea of establishing sizable consumer-first vertical brands addressing unique issues faced by consumers. The supply side is driven by individual brands, which makes discovery and quality curation challenging for a category like jewellery that has a wide range of applications/needs and many selection criteria. We are inspired by the Mabel team’s ambition to become the go-to place for finding and curating fine jewellery in order to address this challenging issue. We anticipate this journey as they operate and profitably expand.

Follow Startup Story