Art of Time, a Mumbai-based luxury watch retailer, has raised 175 crore rupees (US$19.7 million) from investors including CaratLane founder Mithun Sacheti, Jaipur Gems CEO Siddhartha Sacheti, Freshworks founder Girish Mathrubootham, and Plutus Wealth Management.

About 70% of the funding came as primary capital, while the rest was from a secondary sale.

Founded in 2015, the company partners with around 20 luxury brands such as Cartier, Montblanc, Piaget, and Jaeger-LeCoultre.

It currently operates 14 boutiques in five Indian cities and plans to add three more stores this year in Hyderabad, Noida, and Ahmedabad.

The new funds will support retail expansion, product diversification, hiring, and investments in technology and inventory.

🔗 Source: The Economic Times