Aulerth Raises $1.1 Million In Seed Funding Round Aulerth aims to lead a new movement for jewellery in India, a $60-plus billion jewellery market
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Aulerth on Tuesday announced to have raised $1.1 million in seed funding from M Venture Partners, fashion designer Tarun Tahiliani, Taro Nordheider (ex-CEO Swarovski Professional), the LV angel fund, and a network of McKinsey partners.
"We are on an eternal pursuit of bridging seemingly disparate worlds of being couture-inspired, and consciously made. Our core point is: we don't need to go through the destruction to create jewellery that we cherish as precious - there is a more responsible way," said Vivek Ramabhadran, Founder, Aulerth.
Mining for gold generates nearly 150 million tonnes of carbon emissions, and nearly 6 billion tonnes of toxic waste, besides significant ecological damage. Adding to this impact is the mining of diamonds and gemstones, the company said in a statement.
"Aulerth will break the mould and redefine India's approach to jewellery preciousness. Vivek brings a unique combination of strategic acumen and a deep understanding of fashion, jewellery, and the designer space. He has blended sustainability and desirability beautifully into Aulerth, and I look forward to this platform being a progressive highly relevant leader in the Indian and global luxury landscape soon," said Tarun Tahiliani.
"Built on a solid foundation, Aulerth is well-positioned to drive disruption in the Indian and global luxury space over the next few years. MVP is excited to lead the seed round for Aulerth, and by partnering with him on this journey," said Hiran Embuldeniya, Partner, M Ventures.
Founded by Vivek Ramabhadran, Aulerth aims to lead a new movement for jewellery in India, a $60-plus billion jewellery market. The platform aims to showcase the best of Indian aesthetics to a global audience. Aulerth has already on-boarded incredible designers including Suneet Varma, J.J. Valaya, Tribe Amrapali as strategic partners. The company will also offer a "renew" service. Aulerth will accept pieces in return for a percentage of the creation's value as credit units to use for the next purchase. In turn, Aulerth restores the used piece in the market, within the sustainability spirit of furthering the lifecycle of the product. Other investors include a network of present and ex-McKinsey partners--Movelum Gmbh (Morten Klumb), Viktor Hediger, Satya Rao, Akhil Jain, Mohit Jain, Raman Thiagarajan--and angel investors Shanti Mohan (founder, LetsVenture), Vikas Choudhury (president, Reliance Jio), Deepa Bhatia (head of YouGov India), Nishant Rao (Avataar Venture Partners), Upasna Dash (founder and CEO, Jajabor Brand Consultancy), and others.
