Mabel raised $1.5 million in a seed funding round led by Whiteboard Capital, Sauce VC, and the Incubate Fund. Jewelry Markets plans to expand its operations by developing new products, increasing headcount and launching international shipping.
“We aim to build Mabel into an engaging and seamless shopping platform for our customers, while elevating Indian brands to serve a global audience,” said Mabel co-founder Milind Sharma. know in a press release published on PR Newswire. “With this platform, we aim to disrupt the online jewelry shopping experience through brand and product discovery. We will enhance the customer experience by leveraging virtual and AR trial features, bridging the gap between offline and online shopping experiences. We are happy to have the support and trust of our investors to help us achieve our vision. While we currently live in India, we are focusing on streaming globally shortly.”
Anubhav Barsaiyan, Aashish Garg and Milind Sharma launched Mabel in June 2022. The online jewelry marketplace currently retails over 50 brands and over 10,000 styles of jewelry. The e-commerce store has both traditional and modern style jewelry, and caters to a wide range of price points.
“We see jewelry as a $100 billion market driven by stewardship and trust,” said Manu Chandra, founder and managing partner of investor Sauce VC. “India is home to tens of thousands of small boutiques and specialty brands. The same consumers shop from different formats for different use cases like weddings and festivals, business or casual wear. We believe Mabel can become a one-stop online jewelry platform that uses technology to provide consumers with smart and trusted recommendations.”
Mabel aims to enable offline jewelry brands to start retailing online to grow their customer base, first in India then globally. The business is currently shipping to all of India and plans to roll out international shipping in the coming months.
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