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Coluxe closes friends and family round to launch everyday fine jewellery platform

EntrackrEntrackr · 1m ago
Coluxe closes friends and family round to launch everyday fine jewellery platform
Medial

Coluxe, the new-age fine jewellery brand reimagining everyday luxury with lab-grown diamonds and gemstones, has closed its friends and family funding round. The round saw participation from a select group of prominent investors and founders, including Startup Sherpas, HCL co-founder Ajai Chowdhry, ICICI director Tej Kapoor, Sairee Chahal (Founding Partner), Kunal Chowdhry, Rachin Dewan, and Kunal Milwani. The company raised its angel funding in February this year. The fresh funds will be used to launch its full digital storefront in August 2025 and to expand its product catalogue and infrastructure, Coluxe said in a press release. Launched this year by Priyanka Gill, Coluxe uses certified lab-grown diamonds and coloured gemstones to create modular, stackable pieces designed for daily wear. The brand is tailored for a new generation of Indian consumers who are looking for beauty that aligns with their values. As per market research, India’s jewellery market is valued at over $80 billion. “Lab-grown diamonds are unlocking access in a market where only 6% of gold jewellery buyers own a single diamond. At the same time, consumer behaviour is evolving—women are now self-purchasing and seeking everyday fine jewellery that reflects their identity, not just tradition,” said Priyanka Gill, founder and CEO, Coluxe. Earlier this month, Coluxe says it debuted with a limited-edition Rakhi capsule to test demand and operational readiness. The collection sold out within a week, entirely via WhatsApp-based commerce. The August launch will include over 300 SKUs spanning rings, earrings, pendants, bracelets, and signature stacking sets. In the lab-grown diamond space, Coluxe will compete with a clutch of firms, including Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

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Priyanka Gill’s lab-grown diamond brand COLUXE raises angel funding

EntrackrEntrackr · 7m ago
Priyanka Gill’s lab-grown diamond brand COLUXE raises angel funding
Medial

Priyanka Gill’s lab-grown diamond brand COLUXE raises angel funding Serial entrepreneur Priyanka Gill, Venture Partner at Kalaari Capital and Co-Founder of the Good Glamm Group, has launched COLUXE, a lab-grown diamond (LGD) brand. The brand has also raised funds in its angel round for an undisclosed amount. COLUXE offers contemporary designs focusing on collections built around the classic suite of jewellery, from solitaire rings, pendants, earrings, tennis bracelets & necklaces to thematic collections around the zodiac, gifting, manifestation, and the COLUXE signature pieces. According to the company, the key differentiator for COLUXE will be the technology-led focus on customisation and innovating new mechanisms allowing multi-use settings and personalisation through AI. It claims to have an easy integration across flagship stores and digital platforms. The startup plans to launch digitally in mid-2025, followed by flagship retail expansion, tapping into India's $50 billion fine jewellery market. In the lab-grown diamond space, COLUXE will compete with a clutch of firms including Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

Lab-grown diamond brand Aukera raises $15 Mn led by Peak XV

EntrackrEntrackr · 2m ago
Lab-grown diamond brand Aukera raises $15 Mn led by Peak XV
Medial

Lab-grown diamond jewellery brand Aukera has secured $15 million in its Series B funding led by Peak XV Partners. Existing investors Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital have also participated in the round. Earlier in August last year, Aukera had raised Rs 26.7 crore (approximately $3.2 million) in its Series A financing led by Fireside Ventures. Entrackr had exclusively reported the development. The proceeds will help Aukera grow its retail presence, improve its products, and strengthen its position in India’s fine jewellery market. Founded two years ago by Lisa Mukhedkar and Kumar Saurabh, Aukera has 13 stores in cities such as Bengaluru, Delhi NCR, and Hyderabad. The brand plans to enter more cities and aims to become a Rs 1,000 crore brand in the next five to seven years. Aukera focuses on selling high-quality, lab-grown diamonds set in fine jewellery. It targets women who want better designs and bigger diamonds without the high costs of mined stones. The Bengaluru-based firm competes with a clutch of firms including Fiona Diamonds, Limelight Lab Grown Diamonds, True Diamond, COLUXE, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

Firefly Diamonds raises $3 Mn in seed round led by WestBridge Capital

EntrackrEntrackr · 5m ago
Firefly Diamonds raises $3 Mn in seed round led by WestBridge Capital
Medial

Firefly Diamonds raises $3 Mn in seed round led by WestBridge Capital Indian lab-grown diamond jewellery brand Firefly Diamonds has raised $3 million in its seed round led by WestBridge Capital. The proceeds will be used to accelerate the brand’s retail expansion, and its digital presence, and fuel R&D for new and distinctive jewellery collections. Co-founded by Adit and Aayush Bhansali, Firefly utilizes advanced technology to create lab-grown diamonds which offer the same physical, optical, and chemical characteristics as mined diamonds, but their production has a dramatically lower impact on the environment. It offers fine jewellery set in 14K and 18K gold. The brand has stores across 4 cities currently - Mumbai, Pune, Bengaluru, and Hyderabad with a plan to expand to over 20 locations within the following two years. In the lab-grown diamond space, Firefly Diamonds will compete with a clutch of firms including COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

Palmonas raises Rs 55 Cr in Series A round led by Vertex Ventures

EntrackrEntrackr · 21d ago
Palmonas raises Rs 55 Cr in Series A round led by Vertex Ventures
Medial

Demi-fine jewellery startup Palmonas has raised Rs 55 crore (around $6.2 Mn) in a Series A funding round led by Vertex Ventures Southeast Asia & India (SEAI). The proceeds will be used to expand Palmonas’ 9kt gold demi-fine collection, open 100 new stores in the next 12 months, and foray into newer categories. Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor later joining as cofounder, Palmonas specialises in demi-fine jewellery crafted from surgical stainless steel and sterling silver with 18K gold vermeil finish, spanning necklaces, rings, bracelets, earrings, and mangalsutras. Palmonas follows a D2C-first business model, generating sales primarily through its online store, while also leveraging marketplaces like Amazon and Flipkart, along with offline retail outlets. Since launch, the startup has processed over 6.5 lakh orders and built a strong base of repeat customers. The brand was valued at Rs 126 crore earlier this year, following an investment of Rs 1.26 crore by Namita Thapar and Ritesh Agarwal on Shark Tank India Season 4. Prior to this, it had raised Rs 6 crore in an angel round in 2023. Palmonas competes with D2C jewellery players like GIVA, BlueStone, CaratLane, Melorra, and Firefly Diamonds, all of which are capitalising on India’s shift towards digital-first jewellery shopping. The Indian jewellery market, still dominated by offline players with nearly 85% share, is witnessing rapid digital adoption. The country’s online jewellery market is projected to reach $3.7 billion by 2025, creating opportunities for new-age brands like Palmonas.

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