National News
Backed by Rs 2 Crore Seed Round from Avinya Ventures, Lab-Grown Diamond Brand Plans New Stores, Product Lines, and Tech Enhancements
Surat-based lab-grown diamond and Polki jewellery brand Ivana Jewels is eyeing a fourfold increase in revenue this fiscal year, supported by a fresh seed funding round of Rs 2 crore from early-stage investment firm Avinya Ventures. The capital will be used to introduce new product lines, enter additional markets, and strengthen marketing and digital capabilities.
“This funding is a significant milestone for Ivana Jewels and reinforces our vision,” said Ayushi Jindal, co-founder of the brand, in a press release. “We’re focused on expanding our lab-grown diamond offerings—particularly in the one to two carat range, as well as larger stones up to 20 carats—while also growing our Polki jewellery collection. With this support, we aim to launch fresh designs, open new stores, and enhance our reach across India.”
In tandem with its offline expansion, Ivana Jewels is also investing in its digital platform by improving product customisation features, simplifying user interface design, and creating a more seamless shopping experience. The company currently employs 35 to 40 people and is planning a significant scale-up across retail and online operations.
“The lab-grown diamond market is booming, especially in Tier 2 and Tier 3 cities where demand is on the rise,” said Gaurav VK Singhvi, co-founder of Avinya Ventures. “Ivana Jewels’ focus on sustainability, affordability, and personalisation positions them well for growth. We’re excited to back their expansion and help them become a household name in Indian jewellery.”
Founded in 2023 by the Jindal Group, Ivana Jewels operates stores in Noida, Surat, Nagpur, Delhi, and Mumbai, with new outlets planned in Chandigarh and Ahmedabad. The company is targeting a total of 12 to 15 stores by the end of FY2026 and is offering franchise opportunities, with new store investments estimated at Rs 5 crore.
Gold and silver prices on India’s MCX (Multi Commodity Exchange) are trading cautiously
They are following the ups and downs in global prices.This is because the latest FOMC minutes (from the US Federal Reserve’s January meeting) showed a more cautious (“hawkish”) view on future interest rate policies. Some officials want to pause rate cuts or even raise rates if inflation stays high. This reduced expectations for big rate cuts soon.
In early trading today, MCX gold went back above Rs 1.56 lakh per 10 grams. MCX silver is trading between Rs 2.44 lakh and Rs 2.46 lakh per 1 kg. Both metals are a little higher overall.
On the global side, spot gold dropped and is struggling around $4,960 per ounce.The FOMC notes showed Fed officials were divided. Some want to hold off on more rate cuts for now, but they might restart easing later if inflation gets better. Others even talked about possible rate hikes. They wanted the post-meeting statement to show both possibilities for future rates. Because of this, traders now expect fewer rate cuts.
Attention is now on important US data coming this week, like GDP and PCE (inflation measures).Short-term demand for gold and silver has also slowed because of China’s Lunar New Year holiday. Trading activity is low, and many investors are away. At the same time, geopolitical risks with Iran have come up again, with reports saying any US military action could last weeks after talks did not fully succeed.
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