18 January 2023, National: Amama, a high-end designer jewelry brand/marketplace, that has been taking Instagram by storm, recently raised seed funding of $250,000 from She Capital, India’s most active early-stage diversity fund with a focus on investing in consumer tech startups led by women. The startup aims to utilize the fund in boosting its digital presence and to technologically uplift its logistics and operations side.
She Capital is an early-stage fund focused on the next generation of high-growth female-led/ focused businesses. She Capital’s portfolio includes fast-growing consumer brands such as Samosa Singh, Clovia (exited to Reliance on March 22), Yuva Kabaddi, and Nova Nova among others. The fund’s investment into Amama marks its first in the online jewelry market space which is slated to grow to $3.7 billion by 2025. Amama, founded by Nikita Gupta, in 2018, has quickly gained a loyal customer base with its handcrafted designs and curated collections ethically sourced worldwide. Initially, the brand started with Hand-embroidered jewelry, but at the beginning of 2022, it introduced its 22kt Gold plated brass jewelry. And following the trends, the brand soon became a favorite among celebrities and fashion influencers like Alia Bhatt, Masaba Gupta, Jacquline Fernandez, Kriti Sanon, Nora Fatehi, Masoom Minawala, and Komal Pandey are just some of the faces that pop up on their social media handle. With its new funding, Amama is well-positioned for continued growth and success.
With Approximately 80 members in the team, Amama wants to penetrate more within the Indian market and expand into international markets. Amama aims to deliver the best quality jewels with fair practices keeping sustainability in mind. In the coming time, Amama plans to launch its accessory line where the audience can come to shop for all kinds of fashion accessories under one roof.
“We’ve known Nikita for a while now, and absolutely love what she is building and how she has gone about creating a cult following around Amama. We’re excited to be a part of Amama’s growth journey along with this determined entrepreneur” said Anisha, Founder of She Capital.
“We are thrilled to have Anisha and She Capital on board supporting us as we continue to grow and evolve as a brand,” said Nikita Gupta, Founder, of Amama. Nikita, an alumnus of Pearl Academy, explained that the term Amama comes from the Telugu word Amama which stands for Dadi, which is how she addressed her grandmother who is the inspiration for all her designs. “Amama has always been my baby and I feel blessed to be able to share the love for my brand with She Capital. This funding will allow us to bring our vision to life and create even more beautiful and meaningful pieces for our customers, whom we refer to as Amama Lovers, worldwide. And surely, Amama will soon become a part of every woman’s wardrobe.” added Nikita.