Drip Project raises funding from Blume Founders Fund, others

Luxury streetwear jewellery brand Drip Project on Friday said it has raised an undisclosed amount in a funding round led by Blume Ventures’ Blume Founders Fund.

The round also saw participation by other investors, including StrongerHer Venture partner Ankita Vasista and Joules 2 Watt founder and CEO Priti Sawant.

The Mumbai-based startup aims to expand its product catalogue from 500 to over 1,000 products, build more inventory and expand its growth, with the help of the funding, as per a statement.

The company’s parent, men’s jewellery brand Metaman, had last raised a $1 million funding round from other investors, including Zerodha co-founder Nikhil Kamath, actor Suniel Shetty, cricketers KL Rahul and Robin Uthappa, YourStory founder and CEO Shradha Sharma, Accel partner Prashanth Prakash, Razorpay founders Harshil Mathur and Shashank Kumar, Udaan co-founder Sujeet Kumar and BookMyShow co-founder and CEO Ashish Hemrajani.

“With the support of such distinguished names, we aim to evolve in the luxury streetwear jewellery industry of India,” co-founders Harsh Maskara and Anil Shetty said in a joint statement.

Drip Project was founded in 2021 by Maskara and Rohit Golia. In 2022, it was acquired by the Anil Shetty-founded Metaman for $1 million. Golia left following the acquisition.

The company’s range includes bracelets, chains, pendants, rings and earrings.

Blume Founders Fund, a Blume Ventures initiative, invests in pre-seed, seed and pre-Series-A startups. In December, the venture capital firm had made the final close of its fourth India-dedicated fund with a corpus of $250 million, its biggest so far and more than double the previous fund.