German jewellery group Elumeo has raised €1.785 million through a private placement to accelerate its international expansion and develop its digital retail infrastructure. The Berlin-listed company placed 850,000 new shares with institutional investors at €2.10 each, successfully completing the cash capital increase announced earlier this month.

Elumeo said the proceeds would be used to strengthen working capital and finance growth initiatives, including the further development of AI-supported processes and the international scaling of its business.

Elumeo is the parent company of Juwelo, a direct-to-consumer retailer specialising in accessibly priced coloured-gemstone jewellery. Juwelo sells through television-shopping channels, e-commerce sites, smart-TV services and mobile applications. It broadcasts in Germany, Austria, Switzerland, Spain, Italy and Poland, while its online shops also serve customers in France, the Netherlands and Belgium. It additionally operates Jooli, an AI-powered video-shopping platform.

The investment is notable because Elumeo is preparing to expand at a time when German jewellery consumers remain cautious and market growth is being supported by higher prices rather than increased purchasing volumes. Commenting on Elumeo’s half-year results in August, its chief executive Florian Spatz said the restructuring had created a foundation for scaling, “allowing us to return to an ambitious growth trajectory as soon as our customers’ current reluctance to make purchases starts to ease”.

The group returned to positive adjusted EBITDA of €20,000 in the first half of 2026, compared with a €478,000 loss a year earlier. Revenue declined 3.8% to €19.5 million, but gross margin increased from 46.1% to 49.9%. Elumeo has reduced its exposure to products priced below €50, cut unprofitable broadcasting hours and prioritised online customer acquisition.