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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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As Men’s Jewellery Gains Momentum, Sonani Jewels Bets on the Next Big Luxury Opportunity

Sonani Jewels launches its first men’s lab-grown diamond collection as self-expression and conscious luxury redefine jewellery trends.

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For decades, the jewellery industry has largely catered to women. Campaigns celebrated brides, heirlooms and gifting traditions, while men remained passive participants—buying jewellery for loved ones but rarely for themselves.

According to The State of Fashion 2026 by The Business of Fashion and McKinsey & Company, jewellery is expected to be the fastest-growing fashion category through 2028, with annual unit growth of 4.1%—almost four times that of apparel. More significantly, the report reveals that 35% of men say they are purchasing more jewellery for themselves today than they were just two to three years ago, signalling a fundamental shift in consumer behaviour. Men’s and gender-neutral jewellery have also emerged as one of the industry’s most promising growth segments.

For Sonani Jewels, this isn’t just another market trend—it’s the beginning of a new chapter in luxury. Established in 2006, Sonani Jewels has built its legacy on craftsmanship, trust and timeless design. Today, the brand is embracing the future of fine jewellery by combining heritage with innovation through its lab-grown diamond collections, catering to a new generation of consumers who value individuality, sustainability and conscious luxury.

The modern consumer is no longer purchasing jewellery only for milestones. Increasingly, jewellery has become an extension of personal style—whether at work, while travelling, at celebrations or as part of everyday dressing. From rings and bracelets to pendants and diamond accessories, men are embracing jewellery as an expression of confidence and identity.

However, despite this cultural shift, the retail experience has been slow to evolve. Most jewellery stores continue to focus predominantly on women, leaving men with limited options designed specifically for their tastes, lifestyles and aspirations.

Recognising this gap, Sonani Jewels has introduced its first dedicated Men’s Collection—a contemporary range of lab-grown diamond rings, bracelets, pendants, chains and earrings designed for the modern man who views luxury as personal rather than prescriptive.

Commenting on this shift, Agastya Sonani, Founder of Sonani Jewels, said:

“Luxury has evolved dramatically over the past decade. Men have always invested in premium watches, bespoke tailoring and accessories, but diamonds have rarely been positioned as part of their everyday style. We believe that perception is changing, and the industry must evolve alongside the consumer.”

He further added, “Our Men’s Collection is not just about introducing new products; it’s about acknowledging an audience that has long been underserved. We want to create a jewellery experience where every individual who walks into a Sonani showroom feels represented. Jewellery today is less about gender and more about identity, confidence and self-expression.”

The launch also reflects the growing acceptance of lab-grown diamonds among younger luxury consumers. The McKinsey x Business of Fashion report projects that lab-grown diamonds could account for nearly half of all diamond jewellery unit sales by 2030, driven by innovation, accessibility and changing consumer values. Consumers today are investing in fine jewellery not only to celebrate milestones but also to celebrate themselves.

For Sonani Jewels, this evolution extends beyond launching a new collection. It is part of a broader vision to redefine modern luxury through transparency, craftsmanship and innovation while making fine jewellery more relevant to today’s lifestyles.

As fashion continues to blur traditional boundaries and luxury becomes increasingly personal, men’s jewellery is no longer a niche category—it is emerging as one of the industry’s most exciting opportunities. With its dedicated Men’s Collection, Sonani Jewels aims to contribute to this shift by creating jewellery that celebrates individuality rather than convention.

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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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