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Online Retail Startup Raises $23M

May 1, 2019 3:47 AM   By Rapaport News
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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)
Tags: BDC Capital, Crunchbase, Imaginary, Incite Ventures, Mejuri, Natalie Massenet, net-a-porter, New Enterprise Associates, Noura Sakkijha, Rapaport News
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