The Direct-To-Consumer (DTC) jewellery design company MADLY, based in Singapore, announced on Thursday that East Ventures, a local venture capital firm, had made an investment.
According to a statement from MADLY, this funding represents an endorsement of the company by East Ventures.
The nine-year-old bespoke jewellery company claimed it is prepared to accelerate its international expansion with the help of the funds and the direction of East Ventures’ best operational practices.
According to the statement, this strategic alliance will help the company achieve its objective of becoming the leading global bespoke jewellery brand.
“I’m delighted that we are joining forces with East Ventures, a firm that fully aligns with our belief in investing in people,” said Maddy Barber, Founder of MADLY.
“Their commitment to the human element of business sets East Ventures apart, positioning them as the ideal partner to catapult us into our next phase of growth,
“With their support, we’re set to expand our reach globally and build an internationally recognized bespoke jewellery brand,” she said.
With its exceptional display of the top 0.1 percent of coloured gemstones, from the “big three” Sapphire, Ruby, and Emerald to the most recent wave of rare gems like Paraiba Tourmaline, Cobalt Spinel, and Tsavorite Garnet, MADLY, founded in 2014, upended the diamond-centered jewellery industry in Singapore.
In terms of gemstone quality, brilliant designs that seamlessly combine traditional craftsmanship with cutting-edge aesthetics, and the sentiment and story that each individual jewel holds, MADLY provides quality and value that is unmatched.
The demand for custom, personalized jewellery and coloured gemstones is increasing, and MADLY is at the forefront of this trend, according to the statement.
MADLY provides a seamless, immersive experience where the customer is involved at every stage.
Through this meticulous process, the company produces one-of-a-kind hand-crafted jewellery pieces that are thoughtfully designed, offering clients unbeatable value.
“We are glad to welcome MADLY into the East Ventures’ family. We are truly captivated by MADLY’s ability to redefine the bespoke jewellery industry, especially on its innovative approach to design, manufacturing, and customer experience, which sets them apart from traditional maisons. We are excited to be part of their journey and believe that investing in MADLY is an investment in the future of bespoke jewelry,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.
East Ventures, which was founded in 2009, has evolved into a comprehensive platform that offers multi-stage investments for more than 300 tech companies throughout Southeast Asia, ranging from Seed to Growth stage investments.
East Ventures is the original investor in two of Indonesia’s unicorn companies, Tokopedia and Traveloka, as an early proponent of the startup ecosystem in that country. Ruangguru, SIRCLO, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla are a few other notable businesses in East Ventures’ portfolio.
