Jaipur Watch Company, a luxury custom-built watch brand, has raised their first strategic fund round with participation from investors Ankur Mishra (Director - Central Academy Jodhpur Education Society), Tushar Kapoor (Director - Kapsons), Dexter Angels and Marwari Catalysts.
The Founder of Jaipur Watch Company, Gaurav Mehta was very fond of watches and collected coins as a hobby, since his childhood. Combining both these interests, Gaurav started the Jaipur Watch Company, headquartered in Jaipur.
With a strong belief in the 'Make in India' initiative, Jaipur Watch Company is India's first bespoke Watch Company and offers elegant handcrafted limited-edition watches using craftsmanship from coins collected from the British era.
Accelerated by Marwari Catalysts, Jaipur Watch Company was selected out of 300 startups in the accelerator's last D2C cohort.
Sharing his rationale, Sushil Sharma, Founder & CEO, Marwari Catalysts says, " Jaipur Watch Company was founded out of a genuine passion for coins and watches. And it is poised to advance its global ambitions after this new round of fundraising. It's been such an exciting journey so far, and we're really proud of the amazing community of collectors that have become part of Jaipur Watch Company . The brand will definitely set new benchmarks in the luxury watch industry across the globe."
Gaurav Mehta, Founder, Jaipur Watch Company says, "The Indian watch industry is an evolving industry and has a market size of Rs 10,000 crore. Watch lovers today, in fact, are moving beyond the Omegas and the Rolexes, choosing instead to spend their money on customised timepieces sporting monograms, emblems, flags, coins, etc. And it's this niche clientele that the Jaipur Watch Company is targeting with its unique offerings."
As a first-generation entrepreneur, Gaurav had to face several challenges. The first was to fulfill working capital needs since this industry is highly capital-intensive. The second challenge was to create a strong network within the industry by getting the right people for the right job. The third was to enter the luxury watch segment which was not a very big idea in India. But today, he is proud of his decision and the numbers speak for themselves.
On his investment into Jaipur Watch Company, Ankur Mishra, Director - Central Academy Jodhpur Education Society says, "Gaurav Mehta has blended luxury and handcrafted limited edition coin watches beautifully into the company called Jaipur Watch Company. I am excited to lead the fund round for them, and be partnering with him on this journey. I look forward to this platform being a progressive and highly relevant leader in the Indian and global luxury landscape soon."
Commenting on the fund raise, Devendra Agarwal (Dexter Angels) says, "Jaipur Watch Company has carved its own path in one of the most traditional industries by bringing forward such an unique concept of a coin watch which has completely redefined Luxury watches. Also Gaurav Mehta brings the leadership calibre and experience to unlock this significant market opportunity."
As a matter of fact, clearly we have long moved past the time when the watch's only function was to tell the time. Today, it reflects the wearer's style and personality. And Jaipur Watch Company truly reflects the same. In terms of future plans, there are plans of opening flagship stores in Jaipur and Delhi soon.
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( With inputs from ANI )
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