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
This Ashadh, Maharashtra’s Greatest Walk Of Faith Becomes A Jewel: PNGS Unveils ‘Waricha Suvarnasaj’
The 192-year-Old Jewellery House Launches ‘Dagina Maharashtra-Cha ‘, A First-Of-Its-Kind Series That Crafts One Handcrafted Gold Masterpiece Every Month, Each Capturing An Iconic Symbol Of Maharashtra. The Journey Begins With A Tribute To The Wari.
What if you could hold a month in your hands? The rhythm of the taal and mridang, the chant of “Dnyanoba–Tukaram” rising over dusty roads, lakhs of Warkaris walking towards Pandharpur with nothing but longing in their hearts and all of it, captured in gold.
P. N. Gadgil & Sons (PNGS), Maharashtra’s beloved 192+ year old jewellery house, today unveiled ‘Dagina Maharashtra-cha’ (The Jewel of Maharashtra) an unprecedented Product of the Month series in which the brand’s master craftsmen will create one unique, handcrafted gold masterpiece every month, each inspired by a singular, iconic symbol of Maharashtra: its seasons, its festivals, its faith, and its living heritage.
The series opens in the sacred month of Ashadh with ‘Waricha Suvarnasaj ‘, a one-of-a-kind creation dedicated to the Wari, the centuries-old pilgrimage that defines Maharashtra’s spiritual soul.
A Pilgrimage You Can Wear
Look closely, and the piece begins to speak.
The myriad golden beads echo the sanctity of the Tulsi mala and the unbroken devotion of the Warkaris. At its heart, two ornate forms evoke the divine presence of Vitthal and Rukmini, while an arrangement of green gemstones recalls the Kaustubh gem and the purity of Tulsi leaves. Even the design language draws from the traditional fish-shaped ear ornaments (masoli karnabhushan) adorning Vitthal and Rukmini, so that every detail of the piece carries the cultural memory of the Wari.
This is not jewellery designed for a season’s trend. It is a story of faith, rendered in gold.
Aditya Modak, COO/CFO of P N Gadgil & Sons said:
“A dagina is never just an ornament; it carries the heritage of a culture and the identity of its land. With ‘Dagina Maharashtra-cha’, we are attempting something no jewellery house has done before: preserving Maharashtra’s story, month by month, in gold. There could be no truer beginning than the Wari because the Wari is not a pilgrimage alone; it is who we are,”
Twelve Months. Twelve Stories. One Maharashtra.
Each month, PNGS will unveil a new handcrafted creation inspired by the character of that Marathi month, its changing landscape, its celebrations, its beliefs and its history. Together, the twelve pieces will form a golden chronicle of Maharashtra itself, a collection conceived not merely to be owned, but to be inherited.
For patrons and collectors, this makes every month an occasion: a new story revealed, a new masterpiece to discover, and a rare opportunity to bring home a piece of Maharashtra’s identity before the calendar turns.
‘Waricha Suvarnasaj’ is now on display across all PNGS stores in Maharashtra. Patrons can experience the piece up close and learn the story behind every motif from PNGS’s in-store experts.
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About P N Gadgil & Sons (PNGS)
Founded in 1832, P N Gadgil & Sons is one of India’s most trusted legacy jewellery houses, carrying forward 192+ years of craftsmanship, purity, and cultural pride. Today, PNGS serves customers through 126 points of sale across 65 cities and 21 states, blending time-honoured artistry with contemporary design under its house of brands, including Gargi by PNGS.
Social media handle of PNGS and Spokesperson
PNGS Website -https://www.onlinepng.com/
PNGS Instagram – https://www.instagram.com/pngadgilandsons/
PNGS LinkedIn – https://www.linkedin.com/company/png-sons-p-n-gadgil-and-sons-ltd/
Aditya Modak LinkedIn – https://www.linkedin.com/in/aditya-modak-9a8393102/
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Aarya Raut – 8484809115
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