Online jewellery marketplace Velvetcase.com has raised a second round of funding of US$ 1.5 million from Uniqorn Ventures Fund and a group of angel investors, according to media reports. The investments will be made in Bodhi Brands Pvt. Ltd, the company that operates the website.

The other investors include T.V. Mohandas Pai and S. Somasegar through Letsventure (a crowdsourcing platform), as well as The Chennai Angels, which has earlier invested in the company too, the reports add.

The online jeweller is reported to have said that the funds will be used for strengthening their technology, marketing and seller acquisition initiatives, while developing solutions which are seller centric.

Bodhi Brands was founded in 2012 by Kapil Hetamsaria and Runit Shah and raised Rs.6 crore in 2014. It initially focused on selling customised and designer jewellery.

Last year it revamped its business model and created a marketplace with 300 sellers across 28 cities. The aim is to boost the number of sellers to 1,000, according to reports.

Velvetcase also aims to develop have an offline presence by setting up independent kiosks or in collaboration with partner brands in 8-10 cities.