The seed funding round of Mabel was led by Whiteboard Capital, Sauce VC and Incubate Fund
Mumbai: Mabel, an online jewellery shopping platform, raised $1.5 million in seed financing led by Whiteboard Capital, Sauce VC and Incubate Fund. The company plans to use the funding for developing its product and scaling teams across all domains.
Speaking about the focus for the brand, Milind Sharma, Co-founder of Mabel said, “We will enhance the customer experience by leveraging virtual try-on & AR, bridging the gap between offline and online buying experiences.”
Speaking about the opportunity he saw in Mabel, Manu Chandra, Founder & Managing Partner at Sauce VC, which is one of the investors said, “We view jewellery as a $100 billion market driven by curation and trust.”
Speaking about his involvement, Anshu Prasher, General Partner at Whiteboard Capital said, “We are excited by the Mabel team’s vision of solving this complicated problem by becoming the destination for high-quality jewellery discovery and curation. We look forward to this journey as they continue to execute and grow profitably.”
Mabel was founded in June 2022 and came into action in September 2022.
It offers 10,000 designs from 50+ brands. It ships to 20,000 pin codes across India. Mabel plans to expand its operations by offering traditional and contemporary jewellery styles worldwide.