CaratLane is an Indian online portal that sells jewellery. It was founded by Mithun Sacheti and Srinivasa Gopalan in 2008.
CaratLane's inventory includes diamond jewellery and gold coins.
Video CaratLane
History and operations
Mithun Sacheti, a jewellery retailer, collaborated with Srinivasa Gopalan who is an IT entrepreneur and the founder of Lister Technologies, to form CaratLane.
Instead of maintaining a conventional inventory, the company relies on several thousand vendors who supply gems on request. As of August 2015, the company operated ten physical stores in India.
Maps CaratLane
Funding
Tiger Global, a US-based hedge fund, has been investing in CaratLane since 2011. In its fourth round of fundraising (in 2015) CaratLane received INR192 crore (US$29 million) from Tiger Global making the sum total invested by the Hedge Fund approximately INR318.31 crore (US$49 million).
In July 2016, Titan purchased a 62% stake in CaratLane for INR357.24 crore (US$55 million).
3D App
On August 20, 2015 CaratLane launched an app that uses facial recognition and 3D imaging technology to allow customers virtually try on the earrings available on their site.This app can be downloaded on to any smart device.
Awards
- In 2011, Dataquest, Sapient Nitro and JuxtConsult conducted a study to identify the most popular e-commerce sites in India and CaratLane was in the top 20. It was also identified as the best in terms of usability and user interface design.
References
External links
- Official website
Source of the article : Wikipedia
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