Art of Time Raises INR 175 Cr in Series B to Expand Luxury Watch Retail Portfolio and Launch CIRCA

BusinessWire India
Mumbai (Maharashtra) [India], October 9: Art of Time, India's leading omnichannel luxury watch retailer, has successfully closed its Series B fundraise of INR 175 crore (~USD 20 million). The round was led by Mithun Sacheti, Siddhartha Sacheti, Plutus Wealth Management, and Girish Mathrubootham, reflecting strong investor confidence in the brand's vision.
The capital will be used to expand Art of Time's store presence, launch CIRCA, its new bridge-to-luxury concept, and invest in leadership talent, technology, and inventory to serve India's fast- growing base of watch buyers. This fundraise builds on Art of Time's strong momentum, with revenue growth of 80% in FY24-25, following 21% in FY23-24. The company now operates 14 boutiques across five cities.
Founded in 2015 by Gaurav Bhatia and Bharat Kapoor, Art of Time has positioned itself as the leading destination for luxury watch buyers, with partnerships with global watch maisons including Cartier, Omega, Montblanc, Bvlgari and more. As India's exclusive partner for TimeVallee, Art of Time manages their brick-and-mortar boutiques across key cities.
"This fundraise fuels our next phase of growth from launching CIRCA in new markets to deepening our luxury partnerships and building a team ready to lead India's luxury watch retail transformation," said Gaurav Bhatia, Co-founder, Art of Time. "Our goal is to scale Art of Time's client-first philosophy while deepening our partnerships and omnichannel presence."
A New Chapter: CIRCA
A portion of the newly raised capital will fuel the launch of CIRCA, Art of Time's pioneering Omni retail concept aimed at engaging India's next generation of aspirational watch buyers. Positioned to reshape the perceptions of the premium watch segment, CIRCA will introduce a discovery-led, contemporary retail environment that makes fine watchmaking more accessible to first-time buyers.
The first CIRCA store will open in Delhi NCR in 2025, with an ambitious rollout planned across major metros and mini-metros in FY26. "India's aspirational consumer is evolving rapidly. With CIRCA, our goal is to democratize fine watchmaking, opening the doors for a new wave of first-time buyers while building a fresh entry point for the category. We have aggressive national expansion plans, including Tier-2 and Tier-3 markets. To lead this vision, we are delighted to welcome Prashant Chaudhary as CEO of CIRCA - Art of Time. Prashant was instrumental in scaling Carat Lane and brings unmatched retail expertise to drive CIRCA's growth," said Bharat Kapoor, Co-founder, Art of Time. Backing from Industry Leaders, the Series B round saw continued conviction from Mithun Sacheti, founder of CaratLane and early investor in Art of Time, who continues to support the brand in a strategic capacity.
"Gaurav and Bharat have built something rare, a brand that combines deep customer understanding and strong execution," said Mithun Sacheti. "Art of Time has unlocked network effects in a high-value category that has long been underserved in India. I firmly believe that this next phase will cement its position as the country's definitive luxury watch retailer."
The round also saw participation from Plutus Wealth Management, an institution with deep expertise in capital markets, and Girish Mathrubootham, founder of Freshworks. Their involvement underscores investor confidence in Art of Time's differentiated positioning and the long-term potential in India's INR 13,000+ Cr luxury watch market (~USD 1.6B), projected to reach over USD 2.8B by 2033 (IMARC Group).
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