Zerodha co-founder Nikhil Kamath is reportedly looking to invest Rs 100 crore in CaratLane's rival BlueStone.
Bluestone Founder & CEO Gaurav Singh Kushwaha said the company is raising Rs 550 crore from investors at a valuation of Rs 3,600 crore.
Zomato's Deepinder Goyal and Amit Jain are also investing in omnichannel jewellery retailer BlueStone.
In addition, Ranjan Pai, chairman of Manipal Group, and Info Edge Ventures will also be investing around Rs 100 crore each.
According to Gaurav, the raised capital would be used to expand its omnichannel presence and enhance its technology to optimize operations.
Founded in 2011, BlueStone offers rings, pendants, chains, and earrings made up of gold and diamonds through its retail outlets and website.