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Friday, March 1, 2024

Jewellery brand Salty raises Rs 5 crore from All in Capital, others

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Direct-to-consumer fashion jewellery brand Salty has raised Rs 5.4 crore ($6,51,279) in a funding round led by All in Capital and Anicut Capital.

Jewellery brand Salty raises Rs 5 crore from All in Capital, others – Salty – Facebook

Suashish Diamonds, JK Group, and other angel investors also participated in the funding round.

The funds will be used for team expansion and diversification of its product portfolio. Additionally, the brand plans to fortify its digital presence with the release of an app.

Commenting on the funding, Kanishka Garg, co-founder of Salty in a statement said, “The funding is not a mere financial milestone but a testament to the hard work of our team and the unwavering support of our community. We aim to achieve Rs 40 crore annual revenue run rate in 2024 and expand our design range to include over 3000 products.”

Ajay Anand, partner at Anicut Capital added, “We are excited to back Salty’s vision of bringing high-quality and affordable accessories to Indian consumers. Salty has shown exceptional efficiency in its one-year journey. We believe that Salty has the potential to become a key player in the e-commerce and jewellery space. We look forward to collaborating closely with the Salty team to achieve their ambitious goals and contribute to their continued success.”

Founded in 2022 by a trio of college friends Sonaal Goel, Twishaa Gupta, and Kanishka Garg, Salty has rapidly emerged as one of India’s fastest-growing accessories brands, boasting the fulfillment of over one lakh orders.

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