Jaipur Watch Company Garners INR 20 Mn for Luxury Manufacturing Push The company aims to deploy the raised funds to establish a dedicated gold watch manufacturing unit, expand its product line with innovative designs, enhance marketing efforts, and invest in advanced technology and skilled artisans to improve production efficiency.
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Jaipur Watch Company announced that it has secured an INR 20 million investment from Lemon Funds' Nirav Jogani and Dev Diamonds and Lucky Jewellery's Jignesh Shah.
As per the official release, the raised funds will be used to establish a dedicated gold watch manufacturing unit and expand the product line with new, innovative designs.
The raised capital will also help to enhance marketing efforts to reach a wider audience and let them invest in advanced technology and skilled artisans to improve production efficiency.
Gaurav Mehta, Founder, Jaipur Watch Company, said, "We see this as a strategic partnership that marks a significant phase in our growth. Jignesh Shah brings with him years of invaluable experience in jewellery and watchmaking with precious metals. Nirav Jogani, a well-known face in the finance industry, will bring his sharp acumen to bolster our future plans."
Started in 2013, Jaipur Watch Company is a luxury watch microbrand renowned for its exquisite timepieces that seamlessly blend tradition and innovation.
Jignesh Shah commented, "I have been closely following the journey of Gaurav Mehta and Jaipur Watch Company for some time, and I have always seen potential in the brand. By entering into this partnership, we are set to establish a gold watch manufacturing unit exclusively for Jaipur Watch Company, aiming to enhance its product offerings in the luxury segment."
According to the company, this investment not only reinforces Jaipur Watch Company's commitment to excellence in luxury watch manufacturing but also aligns with its strategic vision to expand and innovate within the luxury market.
Nirav Jogani added, "As a chartered accountant by profession who has worked with numerous startups, I see tremendous potential in the Indian luxury market. Jaipur Watch Company is poised to lead the way in the industry, and I am excited to be a part of this venture."
