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
Malabar Gold & Diamonds Executes First Jewellery Export To The UK Under India–UK Trade Agreement
Malabar Gold & Diamonds, the world’s fourth largest jewellery retailer and a responsible jeweller, has exported jewellery to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement. With this, Malabar Gold & Diamonds has become one of the first Indian jewellers to export jewellery to the UK under the agreement. This marks a significant milestone in the company’s international growth journey as well as in India’s jewellery export sector.
The inauguration ceremony for Malabar Gold & Diamonds’ jewellery exports to the UK under the India–UK Trade Agreement was held at Vanijya Bhawan, New Delhi. The event was attended by British High Commissioner to India Lindy Cameron, Commerce Secretary Rajesh Agrawal, Malabar Gold & Diamonds North India Regional Head Mohammed Jishad N.K., representatives of the Gem & Jewellery Export Promotion Council (GJEPC), and senior government officials.
The India–UK Trade Agreement will help strengthen economic cooperation between India and the United Kingdom while creating new opportunities for the Indian jewellery industry, said M.P. Ahammed, Chairman of Malabar Group.
M.P. Ahammed Added:
“It is a matter of great pride for Malabar Gold & Diamonds to be among the first jewellers to export under this agreement. Following the philosophy of ‘Make in India, Market to the World,’ we have been consistently striving to take Indian craftsmanship to global markets. This has also enabled us to create large-scale employment opportunities. Our first export to the UK is a proud milestone for both us and the Indian jewellery industry. It will help us further strengthen our supply chain, deliver greater value to customers, and enhance our competitiveness in the UK market.
We see this as the beginning of stronger trade relations between India and the United Kingdom. Even as we expand our business globally, we remain committed to ensuring the highest standards of quality, trust, and responsible business practices,”
Malabar Gold & Diamonds has planned significant business expansion in the UK, the US, Canada, and other countries through its Western Value Chain. In addition to its existing presence, the company plans to open more than 30 new showrooms in these markets. By becoming a part of the India–UK Trade Agreement from its very inception, Malabar Gold & Diamonds has further reinforced its commitment to leveraging new opportunities in global markets through responsible sourcing while adhering to international quality standards and regulatory requirements.
With more than 445 showrooms across 14 countries, Malabar Gold & Diamonds continues to strengthen India’s position in the global jewellery industry by bringing world-class jewellery designs and superior manufacturing excellence to international markets.
Malabar Gold & Diamonds Executes First Jewellery Export To The UK Under India–UK Trade Agreement
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