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Lab-grown diamond brand Reia Diamonds raises pre-seed round

EntrackrEntrackr · 1m ago
Lab-grown diamond brand Reia Diamonds raises pre-seed round
Medial

Lab-grown diamond jewellery brand Reia Diamonds has raised Rs 2 crore in a pre-seed funding round led by Dinesh Talera and family, along with participation from Venture Catalysts. The proceeds will be utilized to accelerate its next phase of retail expansion, strengthen its omnichannel footprint, and deepen innovation across engagement rings and versatile everyday jewellery, Reia Diamonds said in a press release. Launched in 2023 by Prapanjj S K Kota, Reia Diamonds is a jewellery brand specializing in lab-grown diamond jewellery. The brand aims to provide beautiful, high-quality, and ethically sourced lab-grown diamond jewellery. It primarily sells exquisite lab-grown diamond jewellery but also offers natural diamonds. It is known for its original designs, full customization, and transparent pricing. As per market research, India’s lab-grown diamond market is estimated at $300–350 million in 2024 and is projected to grow at a ~15% CAGR over the next decade. Reia Diamonds says that it uses certified lab-grown diamonds that are identical to mined diamonds in brilliance, and by blending innovation with craftsmanship, it creates jewellery that is conscious, timeless, and truly for the modern Indian woman. Since inception, the brand claims to have built three profitable stores across Bengaluru, Guwahati, and Coimbatore. It offers a franchise model, which enables the brand to scale rapidly while maintaining profitability.

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

EntrackrEntrackr · 8m 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.

Jewelbox raises $3.2 Mn in pre-Series A round

EntrackrEntrackr · 7m 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.

ONYA raises pre-seed round led by Zeropearl VC

EntrackrEntrackr · 4d ago
ONYA raises pre-seed round led by Zeropearl VC
Medial

ONYA raises pre-seed round led by Zeropearl VC Lab-grown diamond jewellery brand ONYA has raised Rs 5.5 crore in a pre-seed funding round led by Zeropearl VC along with participation from angel investors including MyGate founders Vijay Arishetty, Abhishek Kumar, Shreyans Daga, Rohit Jindal, Amal Mishra, and Alkendra Pratap Singh. The fresh capital will be used to accelerate its offline retail expansion across major Indian cities, ONYA said in a press release. Co-founded in 2024 by Himani Yadav and Gaurav Choudhary, ONYA operates as a retailer of lab-grown diamond jewellery that aims to make sustainable, high-quality diamond jewellery accessible and to promote "everyday elegance" with its contemporary designs. The brand focuses on lab-grown diamonds, offering customization and a knowledge hub, and is positioned as a modern, conscious luxury brand. According to the Bengaluru-based startup, it is committed to redefining value in fine jewellery by providing higher brilliance at approximately 20% of the cost of natural diamonds, backed by a Lifetime Exchange and Buyback promise. “ONYA didn’t begin as a business idea — it began with a personal moment. My engagement ring was a lab-grown diamond long before the category became mainstream, and that experience made me realize how many people felt priced out of meaningful jewellery,” said Himani Yadav, co-founder of ONYA. Within 11 months, ONYA claims to have expanded to four profitable high-street stores in Bengaluru, achieving a monthly revenue run rate of Rs 2 crore. It plans to expand its product lines, open more customer-first experience stores, and deepen its connection with India’s growing base of conscious luxury consumers.

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

EntrackrEntrackr · 5m 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.

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

EntrackrEntrackr · 9m 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.

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.

True Diamond raises $1 Mn in seed funding round

EntrackrEntrackr · 1y ago
True Diamond raises $1 Mn in seed funding round
Medial

Lab-grown diamond startup True Diamond has raised $1 million in a seed funding round led by Titan Capital, along with participation from Huddle Ventures, Zeropearl Ventures, and personal investments from Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Mamaearth founder Ghazal Alagh, Abhishek Goyal, and Anmol Jain. The fresh funds will be utilized to build a skilled team, amplify brand visibility, onboard jewellery experts/consultants, designers, and sales teams, launch exclusive boutique outlets in Mumbai and Delhi NCR, and invest in branding and marketing initiatives, True Diamond said in a press release. Co-founded in January 2024 by Parin Shah and Darayus Mehta, True Diamond is a lab-grown diamond jewellery brand that focuses on sustainability, innovation, and uncompromising quality. The company aims to redefine luxury in the jewellery industry. It offers a variety of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, tennis bracelets, amongst others. The startup also provides customized jewellery and men’s collections. According to the Mumbai-based company, its lab-grown diamonds are created in a laboratory setting using advanced technological processes that mimic the natural diamond-growing environment. They have the same chemical composition, physical properties, and optical characteristics as natural diamonds but are ethically and sustainably produced. True Diamond offers an extensive catalogue of 5,000 customizable designs, claims to have a customer repeat purchase rate of 1.7 times, and is available across the country.

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