Connect with us

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.

Published

on

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.”

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

National News

Priority Jewels Ltd.’s IPO Sees Robust Demand,Bidding Reached 46.73x

Priority Jewels Set The Price Band For The Offering At ₹190 To ₹200 Per Share.

Published

on

Priority Jewels Ltd.’s initial public offering drew robust demand on its final day of bidding Tuesday, capping a strong multi-day subscription run driven by heightened investor appetite.

The retail jewelry company’s public issue, which opened on Friday, Aug. 28, closed to public orders after seeing subscription figures accelerate sharply through its final session. Overall bidding reached 46.73 times the shares on offer by the close of the book-building process, according to exchange data, after sitting at 21.23 times coverage at the end of its second day.

Priority Jewels set the price band for the offering at Rs 190 to Rs 200 per share.

Unofficial trading activity pointed to expectations of a firm debut on the public exchanges. The stock’s grey market premium—an informal indicator of investor sentiment ahead of an official listing—stood at Rs 45 per share on the final bidding day. At the upper end of the price band, the grey market valuation implies a potential listing price of Rs 245 per share, representing a 22.5% premium over the issue price.

Over the past nine sessions, gray market trading for the issue ranged from parity to its high of Rs 45, reflecting steady upward momentum leading into the final hours of the order book.

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x