Bengaluru-based jewellery marketplace Eternz raises $1.15M from Kae Capital

Bengaluru-based jewellery marketplace Eternz has raised $1.15 million (approximately Rs 9.6 crore) in a pre-seed funding round led by Kae Capital. 

The round also saw participation from Gemba Capital, IIMA Ventures, TDV Partners, and Venture Lab.

The startup plans to use the raised capital to expand its presence in urban India and to collaborate with international brands aiming to establish their footprint in the country.

What does Eternz do?

Founded in 2023 by Arthi Ramalingam, a former marketing leader at Udaan, Eternz is an online platform for Indian and international jewellery products. The startup plans to create a retail experience centre to complement its digital platform by offering customers a hands-on encounter with jewellery. 

The marketplace currently provides products from brands such as GIVA, Angara, Kisna, and Touch925. It plans to expand its inventory to include gold and diamond jewellery soon.

Leadership comments

"As a platform, we address the trust and discovery issues that consumers encounter when purchasing jewellery online," said Arthi Ramalingam, Founder and CEO of Eternz.

"There is a massive trust deficit online, and consumers are hesitant to buy even if they like the designs. Our aim is to create a trustworthy marketplace that connects high-quality brands with high-intent customers."

Eternz plans to form strategic partnerships with jewellery brands to improve their distribution and reach the right audience. The platform currently focuses on fashion and silver jewelry but plans to expand into gold and diamond segments.

Competitive landscape and market trends

Eternz operates in a competitive landscape alongside brands like Tanishq, as well as online retailers BlueStone and Caratlane. Titan, a Tata Group subsidiary, acquired Caratlane earlier this year in a deal valued at over $2 billion. 

Despite the competition, Eternz aims to differentiate itself by providing innovative services such as customization and personalization. The startup also seeks to establish strategic partnerships with multinational brands to broaden its appeal.

What did investors say about Eternz?

Sunitha Viswanathan, Partner at Kae Capital, added, “Jewellery has become one of the strong pillars in the fashion industry. While in India, bridal jewellery historically has driven growth, we are now seeing Millenials and Gen Z purchase jewellery for daily wear. Jewellery wear is no longer restricted to only occasions. We liked Eternz’s approach of a curated vertical marketplace offering customers a trusted and unique experience. We believe they will become the platform of choice for brands looking to scale their online presence.”

Kae Capital, the lead investor, manages approximately $250 million in capital and has invested in 85 startups with a portfolio enterprise valuation of $9.88 billion. Its portfolio includes a mix of B2B and B2C startups such as Nazara Technologies, Porter, Healthkart, Zetwerk, Tata 1mg, Traya, and Square Yards.