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Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest

EntrackrEntrackr · 7h ago
Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest
Medial

Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest Gold-plated silver jewellery brand Goyaz has raised Rs 130 crore ($14.6 million) in a Series A funding round led by Norwest, marking Goyaz’s first institutional investment. The fresh capital will be used to expand its retail footprint across key Indian cities, strengthen its design and manufacturing capabilities, and further enhance its omnichannel experience. Launched in January 2023 by Priyanka Vemuluri, Goyaz specializes in gold-plated silver jewelry, particularly bridal and contemporary designs. It has rapidly expanded its retail presence to 18 stores across multiple states in India, focusing on combining traditional craftsmanship with modern designs. Priyanka Vemuluri, founder and CEO of Goyaz, stated, “Their partnership empowers us to broaden the reach of our meticulously crafted occasion jewellery. With Norwest’s strategic guidance, we aim to accelerate growth, diversify our collections, and strengthen our retail presence across key markets. Our mission remains to make premium craftsmanship accessible to every Indian household.” Norwest India is part of Norwest Venture Partners, a global investment firm managing more than $12.5 billion in capital.

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

EntrackrEntrackr · 2m 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.

CaratLane posts Rs 883 Cr revenue in Q4 FY25

EntrackrEntrackr · 5m ago
CaratLane posts Rs 883 Cr revenue in Q4 FY25
Medial

Omnichannel jewellery brand CaratLane recorded 23% year-on-year growth during the fourth quarter of the last fiscal year. Moreover, its EBIT reached Rs 70 crore during the same period. CaratLane's total income (excluding bullion and digital gold sales) surged to Rs 883 crore in Q4 FY25, up from Rs 717 crore in Q4 FY24. These figures were reported in Titan’s quarterly results, sourced from the National Stock Exchange (NSE). The studded jewellery category posted a 19% growth, while other segments—including gold jewellery, gold coins, and others—registered a higher growth of 44% during the same period. According to the company's press release, CaratLane added 17 new stores in India, bringing the total to 322 stores across 139 cities. During the quarter ending March 2025, CaratLane had one international store in New Jersey, United States. With a 22% growth in brand searches, CaratLane’s EBIT stood at Rs 70 crore during Q4 FY25, with a margin of 7.9%. Notably, Titan's total jewellery business, including Tanishq and Mia, grew by 25% to Rs 11,232 crore in Q4 FY25. Its domestic (India) business grew by 23% to Rs 10,845 crore during the same period. During FY25, CaratLane posted a 24% year-on-year increase in revenue, rising to Rs 3,583 crore from Rs 2,889 crore in FY24. However, its earnings before tax (EBT) stood at Rs 296 crore, recording a margin of 8.3% for the same period. CaratLane directly competes with Bluestone, Giva, and Melorra. Last month, Bluestone secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), as the firm plans to raise Rs 1,000 crore through a fresh issue of equity shares.

Jewellery brand Nuyug raises pre-seed round led by AJVC

EntrackrEntrackr · 2m ago
Jewellery brand Nuyug raises pre-seed round led by AJVC
Medial

Nuyug, a jewellery brand focused on celebration-wear, has raised Rs 2.5 crore in a pre-seed funding round led by AJVC along with participation from other strategic angel investors. The proceeds will be allocated towards expanding its channel presence across online and offline formats, broadening product catalogue to serve diverse cultural and regional tastes, and investing in R&D and design innovation to elevate material quality and longevity, Nuyug said in a press release. Co-founded in August 2024 by Ankur Dua and Manali Thareja, Nuyug builds a mass-premium jewellery brand that bridges the gap between imitation and fine jewellery, offering thoughtfully designed, skin-safe, gold-toned pieces crafted for weddings, festivals, and social occasions. “The category has long suffered from poor quality, run-of-the-mill designs, and an unorganized supply chain. We started Nuyug to build a brand that speaks to today’s Indian woman — someone who wants her jewellery to be stylish, safe, and celebration-ready,” said Ankur Dua, co-founder of Nuyug. In just 8 months, Nuyug claims that it has crossed Rs 1 crore ARR, launched over 400 products across multiple festive and social use-cases, and scaled across its own D2C website and leading marketplaces including Myntra, Nykaa Fashion, and Amazon.

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