In the online jewelry shopping game, BlueStone is one of the prominent players. This innovative jewelry company has not only provided customers with their exquisite and unique designs, but has also attracted substantial funding’s from investors. Let’s get through the details of BlueStone funding, valuation, and the diverse group of shareholders.
Note: To know more about the company profile of BlueStone, we have already explained that in the article “BlueStone Business Model”. To know about it, visit it once!
BlueStone has an impressive tale of funding history., With passionate entrepreneurs and investors who thought of funding this online jewelry retail. From its inception to its massive rise, BlueStone’s funding journey is one of the major pillars of its success.
Let’s look at its funding history
|YEAR||SERIES ROUND||MONEY GROWTH||INVESTORS|
|January 24, 2012||Series A||$5 million||(undisclosed)|
|March 18, 2014||Series B||$10 million||Kalaari Capital|
|September 11, 2014||Series B||(undisclosed)||Ratan Tata|
|July 9, 2015||Series C||$15.8 million||Accel, Dragoneer, Investment Group, IvyCap Ventures|
|July 18, 2016||Series D||$30 million||Accel, IIFL Finance|
|February 28, 2018||Venture Round||$5.9 million||(undisclosed)|
|January 1, 2019||Venture Round||(undisclosed)||Growth Story|
|January 1, 2020||Series D||$1.28 million||Avanz Capital|
|July 21, 2020||Series E||$1.77 million||Accel|
|March 15, 2022||Venture Round||$30 million||Sunil Kant Munjal|
The most recent investors of BlueStone are Sunil Kant Munjal and Accel. BlueStone has raised a whopping amount of $100.1 million in 10 rounds of funding.
As per the latest of September 2023, the founder of BlueStone estimated that they’ll be securing a funding of around $65 million (Rs.550 crore) in their latest funding round. The funding round will be led by naming investors – Zerodha co-founder Nikhil Kamath, Zomato founder and CEO Deepinder Goyal, CarDekho founder Amit Jain, and financial services firm IIFL.
As seen above, BlueStone has attracted a good amount of funding from investors. Post this BlueStone has also raised its valuation mark. Let’s see through this journey and will know how much valuation it has raised till date. As of May 12, 2022, BlueStone has raised $383 million.
With its new funding round and investments. BlueStone will raise $440 million in 2023, estimated by the founder of the company. For this the company has secured substantial funding from big investors like Zerodha, Zomato, CarDekho, and financial services firm IIFL.
Factors for the Valuation of BlueStone
Customization – The company’s platform ability to customize jewelry items according to their customers, drives sales and enhances the platform’s attractiveness to the investors.
Digital Presence – With the strong online presence and a user-friendly website, BlueStone has made it very easy for the customers to browse, choose, customize, and select their jewelry.
Market Growth – Due to the increasing market demand of online jewelry shopping, BlueStone continues to grow. Its ability to make a hold on the increasing and expanding online jewelry market, leads to its valuation increase.
Strategic Partnerships – Collaborations and partnerships with well-known brands or celebrities/actors can expand BlueStone’s reach and customer base, resulting in increase of its sales and valuation.
BlueStone too holds a very diverse group of shareholders, who invest in the company’s potential, believes in its vision. Each reflecting a different angle of its growth.
|SHAREHOLDERS NAME||PERCENTAGE OF SHARES OWNED|
|ESOP (Employee Stock Ownership Plan)||6.78%|
As of latest May, 2022, with a net worth of around Rs.485 crore, founders hold 16.36% of shares in BlueStone.
The collective efforts of BlueStone and its shareholders have led the company to achieve success in the market. Also to become a recognized name in the online jewelry market.
Note: We have also explained a hot debate of BlueStone vs CaratLane. Both are in cut-throat competition with each other due to their same operating segment. Do check out the article for detailed information.
Till date BlueStone’s funding journey, its massive valuation, and the diverse group of shareholders marks its remarkable evolution and massive success in the online jewelry market.
Their commitment to quality assurance, transparency, customization has garnered them the trust among customers, making them one of the leading players in the online jewelry market. BlueStone, with time, continues to evolve and make a significant statement in the online jewelry industry.