New York, U.S.A
NY based startup AUrate gets $2.62 mln funding from Arab Angel & Victress Capital.AUrate changing the way people experience the jewelry industry– announced today it has raised $2.62 million in new capital. Launched in December 2015 by co-founders and co-CEOs Bouchra Ezzahraoui and Sophie Kahn, in reaction to a lack of contemporary, affordable and ethical jewelry options.
The co-founders are a powerhouse coming from backgrounds in fashion and finance, they’ve built a brand predicated on transparency and products with minimal, clean aesthetic. The investment is a reflection of AUrate’s commitment to excellent craftsmanship, quality materials, and unique client experience.
Bouchra Ezzahraoui, co-founder of AUrate, said: “The capital will enable us to invest in hiring talent necessary to scale and grow our business as well as expand AUrate’s offerings and vision to provide a place for people to purchase Contemporary high quality, ethically sourced, and reasonably priced jewelry handmade in New York.”
All of AUrate’s jewelry is real gold, ethically sourced, and made in New York City, allowing the team to manage the entire lifecycle of their jewelry production process. Giving back to local communities is a pillar of AUrate’s brand. In addition to providing opportunities to the incredible NY-based artisans they partner with, AUrate gives back to Charter schools. With their ‘A Book For Your Look’ program, AUrate donates a book for every piece of jewelry purchased to an economically underprivileged child. The majority of their donations go to Mastery Charter schools and the Bowery Mission Women’s Center. To date, AUrate has donated more than 5,000 books, a direct reflection of over 5,000 pieces of jewelry sold.
The company has ambitious plans for the future, including the expansion of their team, honing in their focus on marketing efforts as well as new store openings. With one permanent location in NY, their unique pop-ups that last several months, and their commitment to social impact, AUrate is positioning themselves to lead the market in transforming the fine jewelry industry.
Arab Angel Fund is an early stage venture capital firm focused on “Seed” and “Series A” investment opportunities with companies that have international expansion potential. Arab Angel is a strategic investment firm that provides unprecedented access to brilliant entrepreneurs seeking to enter the Gulf Cooperation Council (GCC), larger Middle East & North Africa (MENA), and Western Asia markets.
Victress Capital is a forum of female business leaders who want to invest in and support women-led businesses with high-growth potential.