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.
National News
SENCO Gold & Diamonds receives IAGES accreditation across 100+ stores pan India
Senco Gold & Diamonds, one of India’s largest jewellery retail chains, has been accredited with IAGES reinstating its commitment towards wining the trust and confidence of its consumers through its ethical, fair and transparent practices.
SENCO Gold & Diamonds is one of the most recognised names in the Indian jewellery retail sector with more than 100 stores, having built a legacy of trust and craftsmanship for over eight decades in gold, diamond, platinum and silver jewellery.
The Indian Association for Gold Excellence and Standards (IAGES) is a Self-Regulatory Organisation (SRO) established by and for the Indian gold industry to bring clarity and
accountability across the gold value chain including retailers, manufacturers, refiners, bullion traders and others through a stringent Code of Conduct. The framework is designed to promote responsible sourcing, operational integrity and consumer-first practices across every stage of the industry.

“As the Indian gold sector moves towards greater formalisation, frameworks like IAGES are critical in strengthening accountability and consumer trust. Senco’s long-standing alignment with global and national standards including BIS and the Responsible Jewellery Council (RJC) made us natural early adopters of IAGES. This accreditation across 100+ stores reflects our commitment to governance, process integrity and encouraging the industry to move towards higher, more transparent benchmarks,” said Suvankar Sen, MD & CEO, Senco Gold & Diamonds.
From sourcing, refining, hallmarking, transparent pricing practices to store-level operations, IAGES Code of Conduct includes every step of the business which is assessed by a neutral third-party assessor. An IAGES certification assures consumers of the integrity, transparency and responsibility of their retailer who receives an accreditation only after having completed the assessment.
“Senco is a respected legacy brand in India that has built a strong presence across multiple regions. The brand’s alignment with the IAGES framework sends a clear signal to the industry about the importance of transparency, process integrity and consumer-centric standards as essential steps towards formalisation and accountability. By implementing IAGES’ standard Code of Conduct across the value chain, the gold industry builds long-term sectoral credibility, placing the sector at par with global standards,” says Kaushlendra Sinha, CEO, IAGES.

IAGES is currently running a nationwide consumer awareness campaign titled #PehlaCheckIAGES to inform consumers to always check for an IAGES accreditation before choosing their gold retailer.
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