National News
Lab-Grown Diamond Brand Jewelbox Raises $3.2M to Fuel Nationwide Expansion
Backed by V3 Ventures and others, Kolkata-based startup aims to grow retail presence, bolster brand visibility, and expand its team across India.
Kolkata-based lab-grown diamond jewellery brand Jewelbox has secured $3.2 million in pre-Series A funding, led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JITO Incubation & Innovation Foundation (JIIF).
The company, co-founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, plans to use the fresh capital to scale operations, enhance brand visibility, and hire talent across core functions.
Currently operating eight stores across six Indian cities—Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati—Jewelbox is eyeing rapid growth, with a goal to expand to 30 retail locations by the end of 2025.
“The competition in the lab-grown diamond space is heating up, but we welcome it,” said Jain. “Whether it’s legacy brands, established entrepreneurs, or startups entering the space—it validates the category.”
Jewelbox, which sells its jewellery both online and offline, closed FY25 with an annual revenue run rate (ARR) of ₹38 crore, more than doubling from ₹16 crore in the previous year. The brand had earlier raised ₹3.7 crore in seed funding from JIIF in March 2024.
The funding comes at a time when lab-grown diamonds are gaining traction as a more sustainable and affordable alternative to natural diamonds. The segment is seeing increasing investor interest and consumer adoption.
The broader category is also drawing new entrants. Last month, Priyanka Gill, co-founder of the Good Glamm Group, launched Coluxe, a new lab-grown diamond brand that has already secured early-stage funding. Meanwhile, Bengaluru-based jewellery brand Giva is reportedly in talks with Creaegis to raise $80–100 million, valuing the company between $470–500 million, following its entry into lab-grown diamonds.
On the regulatory front, Commerce and Industry Minister Piyush Goyal recently confirmed there are no plans for additional regulations, citing the industry’s healthy growth under a self-regulatory model.
Jewelbox and other emerging players—including Aukera, Giva, and Green Lab Diamonds—have also approached the Central Consumer Protection Authority (CCPA) to dispute the classification of lab-grown diamonds as “synthetic,” arguing that it misrepresents their nature by equating them with lookalike simulants like cubic zirconia.
Commenting on the investment, Arjun Vaidya, co-founder and managing partner at V3 Ventures, said: “Less than 6% of Indians own diamonds today. With rising aspirations and growing awareness, lab-grown diamonds can democratize luxury in India—and Jewelbox is well-positioned to lead that change.”
National News
Digital Gold Surge: Huge Demand During Peak Festive and Wedding Season
Invesors Are Increasingly Adopting Digital Gold Due To Convenience and Lower Entry Barriers.
As India enters its peak festive and wedding season—traditionally the biggest period for gold consumption—consumer buying habits are shifting.
While high and volatile gold prices are limiting casual purchases, demand for gold as an investment asset remains strong. Notably, tech-driven “digital gold” has seen massive growth, despite severe warnings from financial regulators.
Shift from Physical to Digital Gold
Traditional Behavior: Indian households traditionally buy physical gold (jewellery and coins) during festivals and weddings as an auspicious asset.
Emerging Trend: Investors are increasingly adopting digital gold due to convenience and lower entry barriers.
Growth Data: Digital gold purchases reached approximately ₹2,500 crore (~1.6 tonnes) per month between June and August 2026. This represents a 110% Year-on-Year (YoY) increase compared to August 2025.
Price Sensitivity & Macro Drivers
Gold prices have experienced volatility, driven by global macroeconomic factors such as rising crude oil prices, inflation fears, and policy signals from the US Federal Reserve.
High prices are curbing discretionary retail shopping, making systematic digital investments more attractive to price-sensitive buyers.
The Business & Regulatory Challenge
The Regulatory Gap: Unlike Gold ETFs or Sovereign Gold Bonds, digital gold is currently unregulated.
SEBI’s Warning: In November 2025, the Securities and Exchange Board of India (SEBI) cautioned investors that digital gold products:
- Are not classified as securities or regulated commodity derivatives.
- Operate entirely outside SEBI’s oversight.
Counterparty & Operational Risk: Because the estimated ₹7,500 crore accumulated over June–August 2026 sits in a regulatory grey area, investors face significant exposure:
If a fintech platform or issuer defaults, investors have no access to official SEBI grievance mechanisms or statutory protection.
Looking Ahead: Future Regulatory Framework
To mitigate these systemic risks, the Indian government is reportedly exploring a joint regulatory framework involving the Reserve Bank of India (RBI) and SEBI. Under proposed rules:
- Digital gold providers would fall under formal oversight.
- Every digital unit sold would legally require 100% physical bullion backing in audited vaults.
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