Melorra raises $16 mn in its Series D funding round

Melorra, a Direct-to-Consumer Brand, announced the first close of a $16 million Series D fundraising round led by Axis Growth Avenues AIF-I, SRF Family Office, N+1, and current investors. The funding will be used to boost brand marketing efforts and expand the number of offline experience centres around the country.

The brand, which focuses on inexpensive, lightweight, and attractive everyday apparel, has grown at a 200 per cent CAGR over the last several years and now has a revenue of over Rs 360 crore in FY 22.  Melorra offers hallmarked gold jewellery to 718 districts and over 2,800 villages across India.

Talking about Melorra’s growth, Saroja Yeramilli, Founder and CEO, Melorra, said, “Melorra’s unique proposition lies in how we have been able to transform the way women wear gold, bringing it out of lockers and on to dressing tables with daily wear. Our weekly collections launched every Friday are inspired by the latest season Global fashion trends and are unmatched anywhere in the global jewellery industry. Add to that a revolutionary tech enabled, asset light, no inventory, made-to-order manufacturing has been a draw for investors. Melorra’s online distribution strength has ensured it is India’s largest distributed Jewellery company reaching in a record time over 2800 cities/towns and the remotest of villages.”