Connect with us

National News

Lucira secures $5.5 Million in Seed Funding led by Blume Ventures

Ex-Candere founder Rupesh Jain’s second innings attracts heavyweight backing from Blume Ventures, Spring Marketing Capital, SiriusOne Capital Fund, and marquee D2C founders

Published

on

Lucira opens its first retail store in Mumbai this month; sets sights on aggressive omnichannel expansion

Lucira Jewelry, a design-first fine jewelry brand redefining sustainable luxury in India, today announced the completion of its $5.5 million fundraise, the largest ever seed round raised by a jewelry startup in the country to date. The round was led by Blume Ventures with participation from Spring Marketing Capital, SiriusOne Capital Fund and several individual investors, including the founders of Dot & Key, Livspace, Snitch, and Bewakoof.

Founded by jewelry veterans Rupesh and Vandana Jain, Lucira is on a mission to disrupt India’s fine jewelry market by blending world-class design, sustainability, and trust. The fundraise marks a high-conviction bet on Rupesh Jain’s “second innings” after building Candere into one of India’s earliest digital jewelry success stories, later acquired by Kalyan Jewellers.

Rupesh Jain, Co-Founder, Lucira expressed, “This fundraise is a strong validation of the white space we see in India’s fine jewelry market. Indian consumers are moving beyond buying jewelry only for investment, they are seeking design, authenticity, and a brand they can emotionally connect with. With this backing, we aim to make Lucira the most trusted design-first fine jewelry brand from India.”

In a short span since launch, Lucira has created a portfolio of more than 1,000 customizable lab grown diamond designs, each certified by IGI / GIA / SGL / BIS and backed with lifetime exchange and buyback guarantees.

The brand is launching its first retail store in Mumbai this month, signalling the beginning of its retail journey. With fresh capital, Lucira plans to open four new flagship stores by the end of FY2026, further strengthening its digital-first buying experience, and investing in technology-led personalization.

“Rupesh has already proven his ability to build and scale in this category with Candere’s successful exit,” said Karthik Reddy, Managing Partner at Blume Ventures. “What excites us most is Lucira’s omnichannel vision that is seamlessly blending cutting-edge digital experiences with physical retail. The speed of execution, combined with Rupesh’s deep understanding of Indian jewelry consumers, makes Lucira a strong contender to build the next category-defining brand.”

Building for the Long Term

The fresh capital will power Lucira’s next phase of growth. Plans include opening new flagship retail stores in FY2026, enhancing its digital-first customer journey, and strengthening its technology backbone. The company is also investing in scaling its design studio and hiring top talent to build a culture of craftsmanship and innovation.

“Our vision is to cement Lucira as India’s most design-first fine jewelry brand, and that requires building strategically on three fronts, design leadership, omnichannel presence, and consumer trust. This fundraise is a vote of confidence from partners who understand we’re not just selling jewelry, we’re shifting mindsets.” added Rupesh Jain. “We’re investing heavily in our design studio, scaling physical retail alongside digital, and ensuring every piece comes with trusted certification and guarantees. This structured approach is how we see Lucira becoming the go-to fine jewelry brand for a new generation of Indian consumers.” Cumulative Ventures acted as the sole advisor to the transaction. Novolex served as legal advisor to Lucira Jewelry.

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

National News

MMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador

As Part Of The Association, Sidharth Will Lead MMTC-PAMP’s New Integrated Campaign, ‘Purest And More,’ Showcasing The Brand’s Expanding Portfolio Across Physical Precious Metals, Digital Investments and Responsible Gold Recycling.

Published

on

MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery  Gold & Silver refiner, today announced acclaimed actor Sidharth Malhotra as its Brand Ambassador, marking a significant  milestone in the brand’s journey to strengthen its connection with a new generation of consumers. As part of the association,  Sidharth will lead MMTC-PAMP’s new integrated campaign, ‘Purest And More,’ showcasing the brand’s expanding portfolio  across physical precious metals, digital investments and responsible gold recycling. 

The integrated campaign showcases MMTC-PAMP’s complete ecosystem, from 24K 999.9+ purest gold and silver coins and  bars to digital gold and silver, gold recycling, online purchasing and assured buyback services. Through relatable, everyday  moments and festive celebrations, the campaign reinforces MMTC-PAMP’s position as India’s most trusted precious metals  brand while making gold ownership more relevant, accessible and convenient for today’s consumers. 

Announcing the association, Samit Guha, Managing Director and CEO, MMTC-PAMP said:

“We are delighted to welcome  Sidharth Malhotra to the MMTC-PAMP family. Sidharth has built a strong reputation through authenticity, credibility and a  modern outlook—qualities that closely reflect the values of our brand. As one of India’s most admired and influential actors,  he enjoys a deep connect across generations, making him an ideal ambassador as we continue expanding the reach of MMTC PAMP among both seasoned investors and first-time buyers.

This partnership comes at an exciting phase in our growth as we  continue to redefine precious metals ownership through innovation, responsible sourcing and world-class quality. Through  our ‘Purest And More’ campaign, we are showcasing how MMTC-PAMP today offers far more than physical gold—from digital  investments and online buying to gold recycling and assured buyback—while remaining uncompromising on purity and trust.”

The campaign film unfolds through a series of relatable family moments around a wedding celebration, with Sidharth  naturally introducing consumers to MMTC-PAMP’s diverse offerings. The storytelling highlights that every MMTC-PAMP  offering is backed by the brand’s commitment to purity, trust and convenience while reinforcing its promise of “Purest And  More.” 

Speaking on the association, Sidharth Malhotra said:

“MMTC-PAMP has built a remarkable reputation for purity, trust and  innovation, while also modernising the way people invest in and experience precious metals. Whether it’s celebrating life’s  milestones, building long-term wealth or embracing more responsible choices through recycled gold, the brand continues to  stay relevant for today’s consumers. I’m excited to be part of this journey and look forward to connecting with people through  the ‘Purest And More’ campaign.”

The association brings together one of India’s most recognised actors with one of the country’s most trusted precious metals  brands at a time when consumer interest in certified physical gold, digital gold and sustainable precious metals solutions  continues to grow. With Sidharth Malhotra as the face of the brand, MMTC-PAMP aims to further strengthen its leadership  position while deepening engagement with a younger, digitally connected audience. 

The campaign will be amplified across television, digital platforms, social media, print, retail stores and e-commerce channels,  with dedicated creatives highlighting key offerings including digital gold and silver, festive gifting, Virasat recycled gold,  Akshaya Tritiya, Diwali and MMTC-PAMP’s certified purity credentials. 

Link to the TVC (YouTube):

Link to the TVC (Instagram):https://www.instagram.com/p/DciH4s7tim5//

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