Chennai: The Chennai Angels (TCA) on Monday announced an investment in Velvetcase.com, a Mumbai-based e-commerce company specializing in custom and designer jewellery.

The value of the investment is approximately 6 crore, according to Velvetcase.com.

The investment was led by TCA investors Kayar Raghavan and Lakshmi Potluri with participation from other entrepreneurs and angel investors including Jacob Kurian, partner at New Silk Route Advisors, Jerry Rao, founder of Value and Budget Housing Corp. Pvt. Ltd, and Arihant Patni, managing director, Hive Technologies.

Velvetcase was founded in 2012 by Kapil Hetamsaria and Runit Shah. It is a global online platform for custom and designer jewellery. It partners with handpicked designers from across the world to bring a variety of designs to consumers across the world. The team has built a disruptive supply chain model by leveraging cutting edge technology like 3D printers and process innovations in jewellery manufacturing.

“Velvetcase was a compelling proposition due to the firm’s unique business model of presenting a globally crowd-sourced but classily curated jewellery design," said TCA’s Raghavan.

The Mumbai-based company was attractive because it integrates technology, bringing global jewellery designers onto a single platform with a focus on today’s customer, said Potluri. Such an online model, particularly in this vertical, brings wide variety of designs together with supply chain efficiency that creates incredible value proposition for consumers, she added.

TCA is a group of entrepreneurs who help budding entrepreneurs build and grow their ventures into successful companies. TCA, formerly known as Chennai Entrepreneurship Trust Fund, was established in November 2007 with the objective of fostering entrepreneurship with prime focus on nurturing and mentoring new-generation entrepreneurs.

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