Aulyra Design Private Ltd, which runs jewellery platform Aulerth, said it has scooped up seed funding of $1.1 million (around Rs 8 crore) from M Venture Partners and a host of angel investors including designer Tarun Tahiliani, Taro Nordheider (ex-CEO Swarovski Professional), the LV angel fund, and a network of McKinsey partners, among others.
The Gurugram-based company plans to use the fresh funds to expand its operations and build an expansive experts team.
“Our core point is that we don’t need to go through the destruction to create jewellery that we cherish as precious - there is a more responsible way.
We are also extremely excited to work closely with leading designer stalwarts on this pursuit, and scale up their businesses in India and globally," said Vivek Ramabhadran, Founder of Aulerth.
Set up in 2021 by Ramabhadran, Aulerth partners with leading Indian designers and builds high-end jewellery that is an environmentally responsible alternative to jewellery made with gold and diamonds.
The firm plans to offer a 'renew service' where Aulerth will accept pieces in return for a percentage of the creation's value as credit units to use for the next purchase.
In a similar space, recently silver jewellery-focused startup GIVA raised $10 million (around Rs 74 crore) as a part of its series A funding in January.