Mumbai-based omnichannel jewellery start-up eJOHRI raised $1 million funding in a Pre-Series round. This investment was led by Rajesh Ranavat together with a group of investors from Hong Kong. eJOHRI is an omnichannel marketplace for gems & jewellery. The investment will help jewellery retailers from over 100 cities in India access consumers across the country as well as overseas using eJOHRI's digital platform.
“This investment will enable us to ensure better consumer reach and service support for the over 100 existing jewellers on our platform across 100 cities in India and extend this to over 1,000 jewellers in a short period of time,” said Shailen Mehta, Co-Founder of eJOHRI.
According to Mehta, the platform allows customers to choose from over 18,000 designs from different retailers across the country. The potential of this business is in connecting digitally a large number of the over 300,000 jewellery retailers to meet the varied needs of the consumers who will spend approximately US$ 100 Bn by 2025. Further, there are significant opportunities in unlocking value along the entire supply chain which is currently very fragmented.
Jignesh Mehta, co-founder, eJOHRI said, “We are extremely fortunate to have like-minded investors who are not just funding our growth but are also closely involved with the strategy of the business. This investment reaffirms the marketplace potential of this hitherto unorganized business.”
“We found that every jeweller on the eJOHRI portal has been handpicked to represent India's specialized craftsmanship to create the most unique designs. A digital marketplace model was severely needed in this market to help small, medium and large jewellers to meet the specific needs of a national and global audience. It has helped the local jeweller suddenly expand their reach to anyone who likes their designs. We are happy to have invested in eJOHRI and are confident of their growth trajectory,” said Rajesh Ranavat.
The startup claimed that some of the most popular jewellery retailers are already on the eJOHRI platform which include PNG Jewellers, Ranka Jewellers, Waman Hari Pethe, D.P Jewellers, P.C Chandra, PMJ Jewels and IBJA Gold to name a few. eJOHRI is aggressively onboarding jewellers from across India and plans to substantially increase its range of offering in the next 2-3 years.
eJOHRI's omnichannel approach allows customers to “Try & Buy” allowing them to discover online and book appointments with jewellers to visit the store at their convenience apart from the option of buying online.