Silver jewellery brand Unniyarcha raises $1 million round led by Sauce VC
What's the deal? Direct-to-consumer (D2C) silver jewellery brand UnniyarchaDealroom has a profile for this one. Try Dealroom → has raised US$1.36M in an early-stage round led by Sauce VCDealroom has a profile for this one. Try Dealroom →, with participation from Consumer Collective Atrium. The Gurugram-based startup, founded in 2021 by Pulkit Bhat and Divya Nambiar, designs and manufactures traditional and modern silver jewellery in-house through a network of 70 artisans.
Where the money goes: Unniyarcha plans to spend on branding and marketing, expanding manufacturing and supply chain capacity, and adding new product categories, Bhat told ET.
What's the endgame? The startup keeps design and manufacturing in-house, which it says protects quality and margins. Its necklaces, earrings, bangles, pendants, and men's jewellery are priced between US$13.6 and US$40.7. "Beautifully crafted silver jewellery should not be reserved for special occasions or heavy budgets," Nambiar said.
Why now? As gold prices climb, daily-wear buyers are shifting toward lower-purity gold and increasingly silver, said Yash Dholakia, partner at Sauce. It called India's silver jewellery market "a $3-4 billion opportunity and still largely unbranded."
What could go wrong? Unniyarcha competes against large players like Mia by TanishqDealroom has a profile for this one. Try Dealroom → and TataDealroom has a profile for this one. Try Dealroom →'s Caratlane, plus funded D2C rivals such as Giva and Palmonas, and a crowd of new-age brands on Instagram. About 50% of its sales come from its own website and 45% from quick commerce.
The signal: The round sits toward the smaller end of the funding scale, ranking in roughly the 28th percentile by size. But it reflects investor appetite for branded plays in India's fragmented silver jewellery market, where in-house manufacturing is a rare edge in a field dominated by resellers.
Read more: economictimes.indiatimes.com
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