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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.

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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.”

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5 Ways To Elevate Your Diwali Style With Diamond Stacking

Discover five stylish ways to layer, mix and stack natural diamond jewellery this Diwali, creating festive looks that blend timeless elegance with contemporary personal style.

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The best Diwali looks begin with light. It catches on silk, reflects off sequins and comes alive in the brilliance of a natural diamond. This festive season, let your jewellery take centre stage with a little more sparkle and a lot more personality.

From intimate family gatherings and card parties to glamorous Diwali soirées, jewellery is often what completes the festive look. And while a statement piece will always have its place, this season is all about a more personal approach to dressing up: layering, mixing and stacking your favourite pieces to create a look that feels distinctly your own.

Real diamonds lend themselves beautifully to this way of styling. Their timeless versatility allows them to move effortlessly from traditional to contemporary, from understated afternoon celebrations to dressed-up evenings. The key is knowing what to layer, where to add sparkle and when to let a single piece shine.

Here are five ways to make natural diamonds part of your Diwali style story this season:

Layer your necklaces for a modern festive neckline There is something effortlessly glamorous about layered necklaces with festive Indianwear. The trick is to play with length, proportion and scale rather than making every piece compete for attention. Start with a rare diamond solitaire pendant and layer it with a slightly more substantial necklace or a contemporary tennis necklace. With a traditional silk saree or an embellished blouse, richer layers can complement the grandeur of the outfit. With a simpler kurta, saree or lehenga, delicate diamond layers can bring just the right amount of luminosity. Think of it as building your look one layer at a time. The aim is not uniformity, but dimension.

Make a statement with a stack of diamond rings The days of keeping every ring perfectly matched are giving way to a more expressive approach. This Diwali, mix shapes, sizes and silhouettes to create a ring stack that feels personal. Try pairing a classic round diamond with a crisp emerald cut or contrast a sleek band with a more sculptural statement ring. And don’t feel the need to keep every ring on one finger. Spread your stack across both hands for a look that feels more effortless. The beauty of asli diamonds is that every piece brings its own character to the combination. Together, they create a look that feels considered without looking overly styled.

Give festive dressing a contemporary twist with ear stacking If you want to bring a youthful edge to traditional festive dressing, look no further than your ears. Start with a diamond stud or a pear-shaped diamond on the lobe, then build upwards with smaller round studs, delicate hoops or an elegant ear cuff. Mixing different sizes and silhouettes creates a subtle cascade of sparkle without taking away from the rest of your jewellery. It works particularly well with a sleek low bun, a side-swept hairstyle or an updo that leaves the ears beautifully exposed. Paired with a saree, lehenga or even a sharply tailored festive look, an ear stack can make classic dressing feel instantly more contemporary.

Layer your bracelets for a little wrist drama A festive outfit deserves a little sparkle every time you move. This Diwali, let your wrists do some of the talking. Pair a natural diamond tennis bracelet with classic gold bangles, a diamond cuff or a delicate chain bracelet. The contrast between the fluid brilliance of diamonds and the structured form of traditional bangles creates an effortlessly modern combination. For daytime celebrations, keep the layers lighter and more delicate. Heading to a Diwali party in the evening? Add a little more drama with varied bracelet widths and textures. The secret is to mix rather than match. Different pieces can sit beautifully together without looking like they were bought as a set.

Mix the old with the new and make it your own Perhaps the most personal way to embrace jewellery stacking is to forget the rules altogether. Pair a traditional diamond pendant with contemporary solitaire earrings. Wear a tennis necklace with a classic festive saree. Or bring an heirloom diamond into the mix with a newer piece, creating a combination that brings different chapters of your life together. This is where natural diamonds have a particular resonance. They are not pieces that need to be saved for one occasion. They can become part of your everyday wardrobe, be dressed up for Diwali and return again for birthdays, anniversaries, weddings and all the moments in between.

Ultimately, jewellery stacking is less about following a formula and more about finding combinations that feel like you. Start with the pieces you love, experiment with proportions and don’t be afraid to mix the traditional with the unexpected.

Because while trends may change, the value of a real diamond goes beyond the season. It is its brilliance, rarity and the meaning it gathers over time that makes it something to wear, return to and pass on.

This Diwali, let your jewellery tell your story, one layer, one sparkle and one memorable celebration at a time.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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