Jewellery brand Shyle to expand reach with new investment

Silver jewellery brand Shyle has received an funding injection of Rs 70 lakh from investors Namita Thapar and Ritesh Agarwal on entrepreneurial television show Shark Tank India to help the business expand its operations. The investment comes in return for a 1.5% equity stake in the business with a 0.5% royalty until the principal amount is recouped.

“We are glad we could bring this moment to our well wishers,” announced Shyle on Facebook, sharing a video of their celebrations for the investment. “We are glad Shyle happened to be at Shark Tank India. We are glad we were appreciated for our work. We are glad we made our family and friends proud.”

Shyle specialises in ethnic style silver jewellery and retails from its direct to customer e-commerce store. The brand plans to expand its product line, connect with new customer demographics, and establish itself as a key player in India’s silver jewellery market. 

“This deal isn’t just about funding,” said Shyle’s co-founder Astha Katta Sirohiya, Indian Retailer Bureau reported. “It’s about aligning with mentors who truly understand our vision. Namita and Ritesh bring a wealth of experience that will help us take Shyle to the next level.”

Shyle’s brand ethos is to uplift tradition while catering to modern consumers. With the guidance of its Shark Tank Season Four investors, the business will explore new marketing strategies to disseminate its brand message.