Youshine to raise USD 2 mn to fund expansion

Delhi-based jewellery retailer Youshine is looking to raise fresh funds of around USD 2 million from its existing investors.
The company, which has already received seed funding of USD 1.5 million from Switzerland-based angel investors, will raise Series A funds of USD two million by July this year.
The funds will be used to revamp the company's e-commerce business as well as expand its brick and mortar stores.
"We have an omni-channel presence with eCommerce portal and 11 physical stores. The funds will be used to expand across both platforms," Youshine co-founder Ashish Sood said.
With company owned stores in Delhi, Mumbai and Pune among other cities, Youshine is now aiming to add presence across tier II cities like Mohali, Surat and Bhopal.

"We are currently focussing on opening one store per months and already have planned 9 stores in the pipeline," Sood said.

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Online dating app TrulyMadly raises Rs 35 crore * Online dating app TrulyMadly today raised Rs 35 in first round of funding from Helion Venture Partners and Kae Capital.
"It is heartening to have marquee investors like Helion & Kae on board as it reaffirms our faith in the model and approach. They bring a lot of credibility and experience with them," TrulyMadly CEO and co-founder Sachin Bhatia said.
Launched in August 2014 the app has already recorded downloads of 2,00,000 across platforms.

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Caratlane.Com launches second store in Delhi * Contemporary jewellery retailer Caratlane.Com today launched its second brand store in Delhi taking the tally to five stores across the country.
"Delhi is our top priority market and we have seen a consistent rise in the number of shoppers at CaratLane.Com, and believe that this store will delight those who are still unsure about the online buying experience," CaratLane.Com CEO and co-founder Mithun Sacheti said.
The company has announced a launch offer of 30 per cent discount on diamond and gemstone jewellery in the new store at West Delhi's Subhash Nagar.