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

EntrackrEntrackr · 8d 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.

Jewelbox raises $3.2 Mn in pre-Series A round

EntrackrEntrackr · 6m 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.

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