Melorra raises $12.5 mn from Symphony Asia, Lightbox Ventures and others

Jewellery brand Melorra on Wednesday said it has raised USD 12.5 million (about Rs 92 crore) in funding from Symphony Asia, Lightbox Ventures and Alteria Capital.

Others who participated in the round included existing and new family offices of Burman, Jeejeebhoy and others, a statement said.

"The funds will be used for technological innovations, product innovations and brand marketing to grow awareness and position Melorra as the choice of a new generation," it added.

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Melorra said it has been recording accelerated growth in order value and numbers since the lockdown was lifted. The brand has witnessed a 4X increase in both organic and direct traffic compared to last Diwali and the ASP (average selling price) has grown by 40 per cent compared to pre-COVID levels, the statement added.