News on Medial

Related News

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

EntrackrEntrackr · 13d 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.

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.

Download the medial app to read full posts, comements and news.