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Melorra, an online jewellery startup, is aiming nearly five times jump in its revenue at Rs 40 crore in the current fiscal on optimistic demand from non-metro cities. The brand had clocked revenue of Rs 8.5 crore in the first year (2017-18) of its business.
Saroja Yeramilli, Founder and Chief Executive, Melorra, said, "Much of the demand is coming from non-metro cities. We are getting orders from smaller cities and adding 100 new cities for delivery every month. We expect our revenue to touch Rs 40 crore this fiscal."
The company, which sells contemporary lightweight jewellery in gold, diamond and coloured stones, is expecting revenue to touch Rs 100 crore mark in the next fiscal.
The unique selling point of Melorra is affordable rates, modern designs and quality of gold and diamonds from recognised agencies.
Yeramilli has further said that the jewellery start-up has already raised $12 million from a venture capitalist, out of which $8 million has been spent on the business.
"We still have funds. We will invest that and later look for more funds. Funding has not been a problem. Investors are keen to invest in our company," she added.
