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Nikhil Kamath-backed Gruhas picks up 5% stake in The Quorum Club

EntrackrEntrackr · 1y ago
Nikhil Kamath-backed Gruhas picks up 5% stake in The Quorum Club
Medial

Lifestyle hospitality platform The Quorum Club has raised an undisclosed amount of investment in a pre-series A round led by Gruhas. Gruhas is an early stage investment firm floated by Zerodha’s co-founder Nikhil Kamath and Puzzolana’s Abhijeet Pai. Gruhas has acquired a 5% stake in the Gurugram-based company. The Quorum Club plans to allocate the funds towards expansion, make forays into different territories across India, it said in a press-release. Co-founded in 2018 by Vivek Narain and Sonya Jehan, Quorum Club is a lifestyle hospitality brand which runs three brands: The Quorum, district 150 and The Business Quarter. The company has gained ground in the corporate, startups and investors space with its The Quorum branch in One Horizon Centre (Gurugram). According to the firm, it has announced its third club back in 2022 and integrates lifestyle into the work routine. The platform claims that it is expanding its co-working portfolio, under the brand name – The Business Quarter (TBQ), which are hospitality-powered spaces that are being co-located to its clubs. Quorum Club also says that The Quorum Hyderabad will feature a 110-seat premium co-working facility and its Mumbai branch is being stretched to 451 seats. Gruhas deals in equity and debt investments across segments including proptech, cleantech, media and entertainment sectors. The firm co-led its maiden investment worth Rs 9.25 crore in Shark Tank famed direct-to-consumer (D2C) innerwear brand Bummer. The fundraise was exclusively reported by Entrackr on March 8.

Venture Catalysts leads Seed round in Fiona Diamonds

EntrackrEntrackr · 1y ago
Venture Catalysts leads Seed round in Fiona Diamonds
Medial

Lab-grown diamond brand Fiona Diamonds has raised Rs 6 crore in its seed round led by Venture Catalysts. The round also includes AC Ventures, Anikarth Ventures, Shantanu Deshpande of Bombay Shaving Company, Eco Brilliance, and Suraj Nalan. The proceeds will be used to fuel the company’s expansion and innovation in the ethical luxury market. Founded by Parag Agrawal and Saurabh Agrawal, Fiona Diamonds offere customers a curated selection of exquisite solitaire jewelry crafted with lab-grown diamonds. With its flagship stores across Mumbai, Delhi, and Bengaluru, along with a presence in 10 locations of across key cities, Fiona Diamonds has claimed to as as a digital-first brand, having a loyal customer base exceeding 10,000.

Jewelbox raises $3.2 Mn in pre-Series A round

EntrackrEntrackr · 3m ago
Jewelbox raises $3.2 Mn in pre-Series A round
Medial

Lab-grown diamond brand Jewelbox has raised $3.2 million in a pre-Series A funding round led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JITO Incubation & Innovation Foundation (JIIF). In March 2024, the Kolkata-based startup had raised Rs 3.7 crore in seed funding from JIIF. The proceeds will be used to grow its store network, build brand awareness, and hire across key departments. Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox sells lab-grown diamond jewellery through both online and offline channels. The firm reported an annual revenue run rate (ARR) of Rs 38 crore for FY25, up from Rs 16 crore the previous year. Jewelbox currently runs eight stores in six cities—Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati—and aims to expand to 30 stores by the end of 2025. In the lab-grown diamond space, Jewelbox will compete with a clutch of firms, including COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Firefly Diamonds. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line. Last month, Firefly Diamonds raised $3 million in its seed round led by WestBridge Capital. Jewelbox and other new brands have asked the Central Consumer Protection Authority (CCPA) to stop the use of the term "synthetic" for lab-grown diamonds, saying it confuses with imitation stones like cubic zirconia.

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

EntrackrEntrackr · 3m 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.

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