Irish jewellery brand Chupi has raised €3.75m in new funds to accelerate global growth.
The company employs 50 people across Ireland and the UK and sells its jewellery to customers spread across 70 countries worldwide.
The new equity investors include BVP, one of Ireland's leading EIIS investment funds, and Irish Private Equity firm Abbey International Finance.
Permanent TSB’s business banking division has also provided term debt to support the company’s growth plans.
The company said the investment will be used to expand Chupi's retail store network, further enhance its technology offering including Augmented Reality, expand its high impact customer services with the addition of Blockchain, and open up new roles across its team.
Chupi will continue to be majority owned by Chupi Sweetman, her husband Brian Durney and members of the company's leadership team.
"What started as a plan built at the kitchen table almost ten years ago has grown into a business that I am so proud to lead and continue to grow," said Chupi Sweetman, CEO and founder of Chupi.
"At Chupi, we are a digital first luxury brand operating a borderless business model whilst making each and every piece of our jewellery in Ireland.
"Today's investment will allow us break down even more borders on the world stage," she added.
Stephen Burdock, Investment Director at BVP Investments said they are delighted to support the Chupi business.
"We were very impressed with the Chupi team who bring significant experience together of global brands, their senior executive level experience and their focus on sustainable products," he said.
"The Chupi investment forms a significant part of our 2022 EIIS fund portfolio," he added.
