Jaipur Watch Company, renowned for its luxury timepieces, has successfully secured INR 2.4 crore in its latest fundraising round, resulting in the dilution of approximately 8% of the company’s equity stake, according to its Founder, Gaurav Mehta.
Nirav Jogani from Lemon Funds and Jignesh Shah from Dev Diamonds and Lucky Jewellery spearheaded the funding round.
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The funds will be allocated towards the company’s retail expansion, marketing endeavors, and inventory enhancements. Jaipur Watch Company, which presently operates five exclusive outlets, intends to augment its presence by adding three more outlets within the current year.
So far, the company has amassed approximately INR 3.5 crore in total funding. Mehta disclosed that discussions are underway to secure a larger funding round ranging between INR 5.5 to 6 crore. Among its investors are Tushar Kapoor, Director of Kapsons, along with Dexter Angels and Marwari Catalysts.
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