VivoCarat.com, a leading online jewellery marketplace in India, has raised $50K in seed funding from a group of individual investors in November 2016. The funds will be used for product development, team building, and marketing.
Founded in early 2016 by Ritesh Oza and Abhijith Shetty, Mumbai-based VivoCarat is an online marketplace of diversified jewellery brands that showcases striking and spectacular products at an affordable price. It offers a range of new-age contemporary jewellery items, suitable for both special occasions as well as daily wear.
“Each product at VivoCarat is listed into collections considering the needs of the customers and sourced from group of handpicked jewelers renowned for their design excellence and aesthetics. We add a minimum of 100-150 new designs on the site every month and will continue to bring more varieties for customers across the country. VivoCarat has successfully managed to join hands with more than 30 reputed brands across Mumbai & other cities like Jaipur, Surat, Kolkata and New Delhi.” said Ritesh Oza, CEO and Co-founder at VivoCarat.com.
The seeds of VivoCarat were sown when Ritesh saw his friend struggling with finding an engagement ring. As Ritesh explains, “Every store that we went to, be it branded or local, had limited options for designs. They didn’t even have a catalogue for ‘make to order’ rings. Digging deeper, I saw that in India there isn’t a shortage of quality jewellers or design options but a complete apathy towards understanding the needs of the customer. So, learning from this experience, when we started building the catalogue at VivoCarat, we selected products not based on categories, but based on collections. There is no point in displaying a fancy ring to someone who’s looking for a daily-wear ring.”
Ritesh further adds, “Also, being a marketplace in jewellery has its own added advantages. Since we don’t hold any inventory, it helps us revamp our product line and featured jewellers based on the time of the year and changing trends. Unlike retail jewellers, who try to sell an item to clear stocks; our focus remains on understanding and evolving as per the needs of the customer.”
When it comes to brand collaboration, VivoCarat has successfully managed to join hands with reputed brands that deliver some of the best craftsmanship, believe in authenticity and innovative designs. Besides from providing an online platform to the associated brands; it also helps accelerate their business by providing them a host of value added services.
A new feature called ‘Jewellery LookBook’ will be launched in early 2017, is something that both founders are excited about. The LookBook will reach out to the crowd and educate them with the latest news, jewellery in trend, tips, fashion nooks and much more. Ritesh informs, “Although jewellery is big in India, the younger generation is not updated with the latest trends, or for that matter even the traditional designs. A piece of jewellery is valued for the story behind it and we want to be part of that story telling.”
VivoCarat ensures all the gold products are B.I.S hallmarked. Also, all diamond products are G.I.A, I.G.I, I.G.L and S.G.L certified. It also provides free shipping on every order and easy return and exchange policy.