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
Correction In Gold Prices Prompts Margin Calls On Some Bullet‑Repayment Gold Loans
NBFCs, Have Started Shifting Toward EMI Based Gold Loan Products To Reduce LTV Vulnerability
A sharp correction in gold prices over recent months has prompted margin calls on some bullet‑repayment gold loans, while EMI (regular‑instalment) loans have stayed largely insulated; this dynamic and recent RBI rules (effective April 1, 2026) have pushed non‑bank lenders to migrate toward EMI‑based products to reduce future margin‑call risk.
Bullet loans keep principal outstanding until maturity, so a fall in gold’s market value raises the loan‑to‑value (LTV) ratio quickly and can trigger margin calls or demands for extra collateral; lenders have invoked margin calls in some cases as prices fell over five months.
EMI loans reduce outstanding principal every month, creating an equity cushion that buffers the borrower against modest price corrections and so have remained largely unaffected in the recent correction.
Market participants attribute the correction to geopolitical events and renewed concerns about interest‑rate trajectories, which reduced safe‑haven flows and weighed on prices.
Key elements of the new RBI gold‑loan framework (effective April 1, 2026)
- Tiered LTV caps: 85% for loans up to Rs 2.5 lakh, 80% for Rs 2.5–5 lakh, and 75% above Rs 5 lakh. This standardises collateral limits across lenders.
- Requirement that borrowers repay principal and interest within 12 months (ending the widespread practice of rolling by paying only interest) and stricter auction/valuation and borrower‑protection rules (30‑day average or previous‑day price for valuation, faster release of gold on closure, mandated disclosures, auction reserve pricing rules).
- LTV for bullet loans must be calculated on the total amount repayable at maturity, which makes bullet structures less attractive under the new framework.
Industry response and product shift
- Non‑bank lenders (NBFCs, smaller finance companies) have started shifting toward EMI‑based gold‑loan products to reduce LTV vulnerability and margin‑call exposure, and to align with RBI’s consumer‑protection and repayment‑discipline aims.
- Lenders say they can manage risks on short‑term loans and through active LTV monitoring, but the structural incentive now favours EMI schedules because they steadily reduce outstanding balances.
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