Luxury watch microbrand Jaipur Watch Company has raised revenue-based funding from Klub totaling Rs 1.35 crore.
To strengthen its presence in the marketplace for luxury watches, the microbrand intends to use the capital for branding and inventory-related operations.
“I know Klub through its founder, Anurakt Jain. Initially, I was reluctant to try Revenue Based Financing because I thought it was a new concept in India, but later, I realised the importance of RBF and how beneficial it could be for any business in India,” Gaurav Mehta, founder of the Jaipur Watch Company said.
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“In the early stages of your business, you feel that equity is easy. But in the later stages, you realise that equity is costly, and I regret the dilutions I made in the early stages of my business. I could have raised money through a source like Klub. I found it very effective, efficient, and quick money. You must weigh in the pros and cons of debt vs equity financing every time you raise money for your business,” he added.
The Jaipur Watch Company intends to launch instant bespoke watches through its stores, providing customised timepieces in just fifteen minutes, in order to facilitate scalability. Gaurav Mehta is passionate about elevating his company to a worldwide standard and making it the pinnacle of aspiration.
Prime Minister Narendra Modi, actors Amitabh Bachchan, Vidya Balan, and Rana Daggubati, as well as cricket players Rahul Dravid, Yuvraj Singh, and KL Rahul, are among its valued customers.
About Jaipur Watch Company
In 2013, Gaurav Mehta founded Jaipur Watch Company. The company retails its watches on its website, in certain Taj Kazanas and Oberoi Treasuries throughout India, and on online marketplaces like Tata Cliq Luxury and Nykaa Luxe.
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