Carat Lane receives Rs 185 crore funding

Carat Lane Trading, the company which own online jewellery portal Carat Lane has received funding from US hedge fund Tiger Global, reports say. The said Rs 185 crore funds are to support the company in increasing its business activities, investing in technology and increasing its offline stores, reports add. It currently operates stores in Bengaluru, Chennai, Delhi and Hyderabad, reports say.

The funds were raised in a private placement offer to Tiger Global's Singapore investment division Internet Fund III Pts Holdings.

Carat Lane was formed in 2008. In its endeavour, it works towards upholding the trusts quotient with consumers, with services like home trials for upto five jewellery items. It also gives consumers the advantage of savings around 25 percent of retail jewellery prices.