New Delhi: Luxury watch brand Jaipur Watch Company has raised Rs 2.4 crore in a new fundraise diluting around 8 per cent equity stake, the company’s founder Gaurav Mehta told ETRetail.
The round was led by Nirav Jogani of Lemon Funds and Jignesh Shah of Dev Diamonds and Lucky Jewellery.
The company plans to use the funds for its retail expansion, marketing initiatives and inventory investments. Jaipur Watch Company currently has five exclusive outlets and plans to add three more this year.
In total, the company has raised about Rs 3.5 crore to date and is in talks to raise a larger round of Rs 5.5 – 6 crore, Mehta shared. It counts Tushar Kapoor, Director, Kapsons, Dexter Angels and Marwari Catalysts as its investors.
