Jewellery savings app Plus raises $350K in seed round

Jewellery savings app Plus has raised $350K in its seed round co-led by EvolveX which is a startup accelerator spearheaded by We Founder Circle along with VCats and other angel investors. The funding round also witnessed participation of JITO, Vineet Saxena, Abhishek Gupta, Sunil Singhvi, Vijay Rajagopal, Abhay Tandon, Shiva Mohandas, Sachin Shetty and others.

The proceeds will be utilised for expansion and enhancing its operations, Plus said in a press release.

Co-founded by Veer Mishra and Raj Parakh in 2022, Plus is a Jewellery helps customers to save for desired jewellery purchase by directly saving with the jeweller with up to 20% discounts. This saving platform empowers India’s homemakers to save for their jewellery while earning 10% annual interest.

The Bengaluru-based startup claims that it has been actively acquiring jeweller partners ahead of its B2C launch and now in UAT (User Acceptance Testing) phase and also claims to have a roster of over 270 jewellers onboarded as partners.

The  EvolveX’s startup accelerator program offers an upfront funding of $20K to $200K worth of credits. It provides a continuous opportunity for startups and applications are accepted on a rolling basis.