The funds secured are to be used for to fund R2Net's aggressive growth strategy. As part of this strategy, the Company recently acquired and consolidated the operations of Segoma Inc - an innovative provider of advanced diamond imaging technology, and Brio Animation Studio Ltd - a groundbreaking visualization and augmented reality studio, says a report.
Besides, R2Net's ecommerce brand - JamesAllen.com - has recently launched a 'store-in-store' joint venture with Sears, one of the largest brick and mortar retailers in the U.S.
"I'm excited to have IGP, one of Israel's premier private equity funds, share and invest in realizing our vision and would like to welcome Moshe Lichtman and Haim Shani to our board. I look forward to benefiting from IGP's partners' operational experience in scaling up global technology companies," said Oded Edelman, R2Net's founder and CEO.
"R2Net is a great example of the type of technology companies that IGP is focused on. Its ground-breaking technology, its strong momentum in the marketplace and Oded's vision and unique skills make R2Net a prime candidate for global category leadership in a huge market that's ripe for disruption," said Moshe Lichtman, General Partner at IGP. "IGP believes that there is a unique strategic opportunity to better serve the entire diamond industry's ecosystem and to deliver significant value across the board with R2Net's technology platforms and capabilities."
JamesAllen.com seamlessly integrates smart phones, tablets and PCs, as well as virtual kiosks, which enables the digital generation to easily shop for diamond jewelry in an interactive, personalized and familiar environment. In addition to its direct-to-consumer business, R2Net operates a B2B platform that serves the online diamond sales of giants such as Signet Jewelers, the largest jewelry retailer in the world with 3,500 retail stores worldwide, adds a report.