Jaipur Watch Company, a luxury custom-built watch brand, has raised their first round of funding, with participation from strategic investors, Angel investors and people who can contribute to the journey; Mr. Ankur Mishra (Director- Central Academy Jodhpur Education Society), Mr. Tushar Kapoor (Director – Kapsons), Dexter Angels and Marwari Catalysts.
The startup would use the funds to improve its inventory while also extending its digital platform, diving deeper into markets, and entering new countries.
Gaurav Mehta, the founder of the Jaipur Watch Company, has always had a passion for coins and watches. In 2013, Gaurav founded the Jaipur Watch Company by fusing his two passions. The premium watch company, which has its headquarters in Jaipur, makes watches utilising workmanship from coins gathered from the British Empire.
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 big brands, 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.”
The Jaipur Watch Company, India’s first custom watch company, strongly supports the “Make in India” initiative and offers a classy handcrafted limited-edition collection of classic pieces that emanate tradition with a faint nod toward contemporary design.
Further speaking on the funding, Gaurav adds, “The fresh capital will multiply the startup’s efforts to massively increase our reach and bring our capabilities to more markets and geographies. Also, being accelerated by Marwari Catalysts and supported by Dexter Angel’s, Jaipur Watch Company will definitely set new benchmarks in the luxury watch industry across the globe.”
First-generation entrepreneur Gaurav has to deal with a number of difficulties. Since this sector requires a lot of capital investment, the first step was to meet working capital requirements. The second problem involved finding the right people for the proper jobs in order to build a strong network inside the sector. The third was to make a foray into the exclusive watch market, which was not a particularly popular concept 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.”
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.”
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, the company has 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.
About Jaipur Watch Company
The Jaipur Watch Company is India’s first bespoke watch company and firmly supports the “Make in India” concept. A beautiful handcrafted limited edition collection of classic items with a subtly modern design element was launched in 2013. Each watch is painstakingly handcrafted to be treasured as heirlooms that may be handed down through the generations.