Mejuri, a luxury jewelry brand that sells directly to consumers online, raises $ 23 million from investors to grow its business.
The Canada-based company will use these funds to open more physical stores, expand its international operations, and invest in branding and customer experience, it said.
The startup works primarily as an e-commerce site, but also has two physical stores in New York and Toronto. It received funds from investors such as New Enterprise Associates, BDC Capital and Imaginary, a venture capital fund from Natalie Massenet, founder of Net-a-Porter.
Founder Noura Sakkijha, a third generation jeweler, launched Mejuri in 2015 as an alternative to traditional jewelry stores, which usually focus on men as bestowers. The platform is for women who buy jewelry themselves, according to the website
Mejuri employs a total of 120 people. Women make up 80% of her team, she added.
The company has raised more than $ 29 million from investors so far, including this latest financing round.