Candere

Candere was founded in 2012 by Rupesh Jain as an Indian online portal for jewellery and gold coins. Candere is a Latin word which means to glow or shine.

History

Rupesh Jain, raised in a family of retail jewellers; is an IT engineer from Mumbai. He served as Company President at Ornet Technology and as a software engineer at L&T Infotech. His fascination in integrating retail jewellery with technology piqued his interest in creating this online portal which led to his collaboration with Ashish Bajaj, the then Vice President at Miles Software Solutions, to form Candere. Ashish exited the company in 2016.

Funding

An initial investment of 2.5 crore was made by Singularity Strategic, a Hyderabad based company, owned by Brijesh Chandwani and Subram Kapoor, which later rose to a total of 4.2 crores.

Mergers and acquisitions

In 2017 Kalyan Jewellers, an Indian jewellery store chain owned by the Kalyan Group invested in Candere forming a partnership between both. Kalyan Group purchased the stakes and the equity held by Singularity Strategic in Candere and some part held by its founder, for a sum of 40 crores.

Operations and alliance

Candere operates with a team of 40 employees which includes in house manufacturing of products. The company has partnered with e-stores like Amazon.com, Zivame, Yatra, Kotak, ICICI and HDFC.

References

  • Official Website: 1
  • Official Blog Page: 2