India’s First Jewellery Savings App Plus raises USD 350K in its Seed Round

Bengaluru, 17 August 2023: EvolveX, a leading startup accelerator spearheaded by We Founder Circle (WFC), has announced its investment in Plus, India’s first jewellery savings app. Plus caught the attention of investors while participating in EvolveX’s Cohort 2, which was launched in September 2022.

The brand’s innovative concept impressed the investment community, leading to a significant USD 350K seed investment from multiple investors like WFC, VCats, & angels including EvolveX. The investment round saw participation from notable investors including We Founder Circle, Venture Catalyst, JITO, and renowned Angels such as Vineet Saxena (Ex-founder Myntra, CEO Card91), Abhishek Gupta (Venture partner, WFC), Sunil Singhvi (CEO South Handlooms), Vijay Rajagopal (Head, Amazon Pay), Abhay Tandon, Shiva Mohandas, Sachin Shetty (Founder, Giva), among others.

Plus has invested the funds towards expanding and enhancing its operations. The company has been actively acquiring jeweller partners ahead of its B2C launch and now in UAT (User Acceptance Testing) phase, Plus has an impressive roster of over 270+ jewellers onboarded as partners. 

Plus with its slogan ‘Bharat ka Jewellery Savings App’ empowers Indian homemakers to save for their desired jewellery effortlessly, while also earning an attractive 10% annual interest. With an array of top jewellers, exclusive offers, and unbeatable discounts at their fingertips, users can embark on a rewarding and seamless journey toward fulfilling their jewellery aspirations. 

Bhawna Bhatnagar, Co-Founder, EvolveX, shared her thoughts on the investment, saying, “Gold has long been a preferred medium for Indian homemakers to safeguard their savings. However, with the emergence of novel platforms like Plus, we see a transformative shift in how homemakers can now save and earn interest effortlessly while aspiring for their dream jewellery. The investment in Plus aligns with our commitment to support forward-thinking solutions that have the potential to bring financial empowerment to thousands of individuals across the country with security and transparency.”

Veer Mishra, Co-founder of Plus, is a seasoned entrepreneur with four ventures like Neuron Inc, mYwindow Oasis productions & Vedalabs under his belt, two of which resulted in successful exits. He was recognized by Forbes 30 under 30 Asia in 2021 and is also an Angel Investor, contributing to the startup ecosystem.

Commenting on the fund raised, Veer Mishra, Co-founder of Plus, expressed his gratitude to EvolveX for their belief in their vision and unwavering support. He added, “We are immensely confident in both the market and our exceptional team. With the successful completion of this fundraise, we have made significant strides on the supply side and are now eagerly poised to bolster our demand side. As we shape our Pre-Series A round, the future looks incredibly promising and exciting for Plus.”

EvolveX continues to identify and support innovative startups like Plus, contributing to the thriving entrepreneurial landscape in India. The accelerator’s dedication to fostering promising ventures paves the way for transformative solutions in various sectors.