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
GJEPC Calls For Suggestions From Industry On Proposed Gold Reform Measures
GJEPC, Is Undertaking Consultations On Promoting Low-Caratage Jewellery, Revamping GMS, To Encouraging Exchange Of Old Jewellery To Boost Recycling
GJEPC is leading industry consultations to formulate a proposal on gold monetisation and measures to reduce India’s Current Account Deficit (CAD), following initial discussions on precious metals convened by the Ministry of Commerce & Industry.
GJEPC, in coordination with AIGJC and other industry stakeholders and GJEPC members, is undertaking consultations on promoting low-caratage jewellery, revamping the Gold Monetisation Scheme (GMS) to mobilise idle household gold, encouraging exchange of old jewellery to boost recycling, and discouraging passive gold investments such as bars and coins.
The industry paper will exclude temple gold, income tax amnesty measures, and any recommendation on reducing gold import duty. It also supports wider adoption of 9K, 14K and 18K hallmarked jewellery, stronger export incentives for the gems and jewellery sector, and safeguards against smuggling.
Jewellers are expected to remain the primary implementation channel, backed by declaration, valuation and monitoring mechanisms, while measures such as hedging and price protection may be explored to address gold price volatility.
GJEPC has invited member inputs by 28 May, with the consolidated proposal slated for submission to the Government by 5 June 2026.
GJEPC is leading industry consultations to formulate a proposal on gold monetisation and measures to reduce India’s Current Account Deficit (CAD), following initial discussions on precious metals convened by the Ministry of Commerce & Industry. GJEPC, in coordination with AIGJC and other industry stakeholders and GJEPC members, is undertaking consultations on promoting low-caratage jewellery, revamping the Gold Monetisation Scheme (GMS) to mobilise idle household gold, encouraging exchange of old jewellery to boost recycling, and discouraging passive gold investments such as bars and coins. The industry paper will exclude temple gold, income tax amnesty measures, and any recommendation on reducing gold import duty. It also supports wider adoption of 9K, 14K and 18K hallmarked jewellery, stronger export incentives for the gems and jewellery sector, and safeguards against smuggling. Jewellers are expected to remain the primary implementation channel, backed by declaration, valuation and monitoring mechanisms, while measures such as hedging and price protection may be explored to address gold price volatility. GJEPC has invited member inputs by 28 May, with the consolidated proposal slated for submission to the Government by 5 June 2026.
GJEPC Calls For Suggestions From Industry On Proposed Gold Reform Measures
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GJEPC Calls For Suggestions From Industry On Proposed Gold Reform Measures
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MCX Gold and Silver Futures Slip On Geopolitical Tensions & Inflation Fears
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National News1 hour agoGJEPC Calls For Suggestions From Industry On Proposed Gold Reform Measures
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