Online jewellery brand Mejuri closes $5m Series A led by London’s Felix Capital
Direct-to-consumer fine jewellery brand Mejuri has closed a seven-figure funding round led by London firm Felix Capital.
The Series A investment, totalling $5m (c.£3.9), included backing from Real Ventures, BDC Capital Women in Technology Fund, Dash Ventures and Incite Ventures.
It will help Mejuri increase its physical presence with bricks-and-mortar stores as it continues developing online relations with customers and micro-influencers.
The company was founded in 2015 by entrepreneurs Noura Sakkijha and Maj Masad as a brand geared towards millennial women.
Mejuri’s aim is to revolutionise the way women buy jewellery; its focus is on maintaining a fresh product line and engaging customers in one-on-one conversations to a build a community around its brand.
CEO Noura Sakkijha said: “We’ve done a lot with little, and we consider this efficiency and attention to spend to be one of our biggest strengths.
“I am inspired by entrepreneurs like Katrina Lake, who took Stitch Fix to its initial public offering with only $40m in funding.”
She added: “It’s a great example to help entrepreneurs realize that they can achieve substantial growth without seeking large amounts of capital prematurely.”
Mejuri pioneered the ‘drop’ model in the traditional fine jewellery industry, opting to release new products every Monday in place of large seasonal releases.
Noura continued: “We’re thrilled to have more capital to extend our brand to physical stores over the next few quarters. We’ve recently opened our first location in Toronto, with the next one being planned in New York City, and have been excited to connect with our customers and have them experience the brand [in real life].”
Majed Masad, co-founder and COO of Mejuri, said: “We believe Felix Capital’s focus on brand and customer experience aligns perfectly with our vision at Mejuri.
“We’re happy to have their experienced team on board, and to continue disrupting the category by building a thoughtful, community-focused brand experience.”
Sasha Astafyeva, principal at Felix Capital, commented: “Mejuri is a brand we have been watching for some time.
“Their mastery of the digital space has engendered their impressive success to date and we are very happy to be able to support them to take the next step in their growth.”
Looking to promote your product or service? Bdaily Marketing can help you reach a regional business audience. Request our latest Media Pack →