RAPAPORT… Mejuri, a luxury-jewelry brand that sells directly to consumers online, has raised $23 million from investors as it looks to expand its operations.
The Canada-based company will use the funds to open more physical stores, develop the business internationally, and invest in branding and customer experience, it said.
The startup operates primarily as an
e-commerce site, but also has two brick-and-mortar stores in New York and Toronto. It received the funding from investors including New
Enterprise Associates, BDC Capital, and Imaginary, a venture
fund owned by Net-a-Porter founder Natalie Massenet.
Founder Noura Sakkijha, a third-generation jeweler, launched
Mejuri in 2015 as an alternative to traditional fine-jewelry stores, which
generally target men as gift-givers. The platform is targeted at female self-purchasers, its website notes.
Mejuri employs a total of 120 workers. Women account for 80% of its team, it added.
The company has raised more than $29 million from investors
to date, including the latest funding round.
Image: A white-gold and diamond ring. (Mejuri)
Online Retail Startup Raises $23M
The Bottom Line
- Mejuri raised $23 million from investors to fund international expansion, new stores, and branding efforts.
- The Canada-based startup operates mainly online with two physical stores in New York and Toronto.
- Founded in 2015, Mejuri targets female self-purchasers and employs a workforce that is 80% women.
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