Xavier Kong · · 1 min readKorean jewelry ecommerce firm bags additional $6m in series B
Bejewel, a Korean jewelry ecommerce platform, has raised an additional 8 billion won (US$6 million) in its series B follow-up round from investors, including Rakuten Capital, CJ Entertainment and Media, and SoftBank Ventures Asia.
Bejewel CEO Saeile Hue (left) and CSO Jihyun Choi / Photo credit: Bejewel
Bejewel will use the fresh funds to accelerate its expansion plans across the Asia Pacific. The plans include strengthening its foothold in the Japanese market.
Founded in 2017, Bejewel started servicing Amondz, its vertical ecommerce platform, in 2018. Currently, Amondz hosts over 1,600 jewelry brands, having sold more than 70,000 jewelry pieces. The unit has over 900,000 subscribers and has more than doubled its revenue in the first half of 2022 from a year ago.
While the company operates its Amondz Japan unit in the Japanese market, it runs Byamondz in the North American market. The latest investment pushes Bejewel’s total funds raised to 22 billion won (US$16.5 million).
Currency converted from Korean won to US dollar: US$1 = 1337.65 won
See also: 50 rising startups in Korea
Editing by Deepti Sri
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