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Funding · Commerce & Consumer Brands

Bangalore Watch Company raises $1.4M seed

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Bangalore Watch Company logo
Date
Company
Bangalore Watch Company
What it does
Indian luxury watch brand
Kind
Funding
Amount
$1.4M
Stage
Seed
Based in
Bangalore
Founded
2018
Sector
Commerce & Consumer Brands

What they do

Bangalore Watch Company makes mechanical watches in India and ships them to more than 30 countries

What happened

Its seed money came from a group of its own customers, including family office heads and wealthy individuals

Why it matters

The brand will use the cash to enter the global independent watchmaking scene, with Indian themes like space and cricket

The details

  • The brand raised $1.4 million in a seed round.
  • Backers are its own customers.
  • They include family office principals and HNIs from India and abroad.

The bigger picture

  • Funds go into global expansion.
  • Target is the independent watch segment.

About the business

  • It sells automatic wristwatches (self-winding, no battery) in collections inspired by outdoors, space, aviation and cricket.
  • Buyers are watch enthusiasts and collectors, in India and abroad; about a third of sales come from overseas, with the US the biggest market after India.
  • It makes money by selling watches directly online and through one boutique, at roughly Rs 1.2 lakh to 2.8 lakh each.
  • It stands out by being an Indian-designed luxury watch brand, made in Bangalore, with about three in ten buyers coming back for another.
  • It makes around 1,500 watches a year and plans to grow that several times over in the next few years.

What happens next

  • Expand globally.

Investors

  • Customer family offices and HNIs (investors)

Founders

  • Nirupesh Joshi, Co-founder
  • Mercy Amalraj, Co-founder

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