GemPundit.com raises seed funding from a group of individuals

Gurgaon-based Fortuna Retail Pvt Ltd, the company behind GemPundit.com, an online store for gemstones, has raised an undisclosed amount in seed funding from a group of individuals, including Anand Kumar, partner of Mumbai-based law firm Sand Hill Counsel, according to a VCCircle report.

The funds will be used to expand its team and revamp the company, GemPundit’s CEO Nitin Yadav told VCCircle.

"We added seven people to our team last month, and we are now looking to add another eight next month," said Yadav.

The startup was founded in August last year by Yadav, a serial entrepreneur with experiences in online marketing and e-commerce operations. Prior to starting Fortuna, he had also co-founded a few firms, including Atoot.com and LoveArranged.in.

GemPundit.com sells loose gemstones and coloured gemstone jewellery across 40 different categories. These include sapphires, emeralds, rubies and natural pearl, besides semi-precious stones like amethyst, topaz, malachite and lapis Lazuli.