Omaha Capital leads $30m round for China jewelry maker
Hong Kong-based Omaha Capital has led a $30 million Series C round of funding for Bloves, a Shenzhen-based manufacturer of customized wedding rings.
Austrian crystal manufacturer Swarovski, a shareholders in Omaha Capital, also participated in the round. It will advise Bloves on branding campaigns and share product design resources.
The company started as an online enterprise but now has 46 stores in 30 Chinese cities and generated approximately RMB600 million ($99 million) in revenue last year.
The new capital will be used to open an additional 80 stores and to integrate resources with upstream suppliers, said Lin Cao, Bloves' founder.
According to AVCJ Research, Bloves received a RMB30 million Series A round from Tiantu Capital in 2010. One year later, Yonghua Capital and Shenzhen Eastern Jaixin Venture Capital put in an additional RMB100 million.
Founded in 2004, Omaha Capital China, formerly known as CMT ChinaValue Capital Advisors, focuses primarily on early-stage and growth companies in healthcare, clean technology, technology, media and telecom areas in the Greater China region. It has offices in Beijing and Shanghai.
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