Store for gemstones GemPundit.com raises seed funding in inida

GemPundit.com sells loose gemstones and coloured gemstone jewellery across 50 different categories. These include sapphires, emeralds, rubies and natural pearl, besides semi-precious stones like amethyst, topaz, malachite and lapis lazuli.

Currently, GemPundit gets the maximum number of orders from individual customers, astrologers and jewellers across Delhi, Mumbai and Bangalore.

Yadav claims that the startup has nearly 50,000 SKUs (stock keeping units), and it is now planning to add 5,000 SKUs every month. The firm targets Rs 25 crore revenue by the end of 2015.

GemPundit is also looking to raise a fresh round of funding worth $2-10 million. “This capital will be used to expand our operations to international markets including the UK, Australia and Canada. We are also planning to set up a small office in the US in mid-2015,” Yadav added.

Other companies operating in the online jewellery space include CaratLane.com and BlueStone.com.

(Edited by Joby Puthuparampil Johnson)

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