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
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.
– The 16th edition of the Gujarat Gold Jewellery Show (GGJS 2026), jointly organized by GGJS and the Gold Ornaments Jewellers Wholesalers Association (GOWJA), successfully concluded its three-day B2B trade exhibition at the Helipad Exhibition Centre in Gandhinagar. The landmark event reinforced its position as a premier national platform for business networking, product sourcing, design innovation, and trade collaboration.
Under the leadership of GOWJA President Hiteshbhai Soni, Vice President Akshaybhai Mehta, and the organizing committee, GGJS 2026 recorded unprecedented trade visitor footfall, substantial bulk order placements, and strong participation from leading jewellers, manufacturers, wholesalers, and retail delegations across India.
Jointly organized by GGJS (Gujarat Gold Jewellery Show) & GOWJA (Gold Ornaments Jewellers Wholesalers Association), the B2B exhibition is creating a strong platform for business networking, product sourcing, market opportunities and industry collaboration, with a special focus on the participation and aspirations of the young jeweller’s community.
The grand inauguration was graced by Guests of Honour boCHE (Dr. Boby Chemmanur), Chemmanur International Jewellers, A.B.S. Sanjjay, AVR Swarna Mahal Jewellers, Pramod Dugar, India Gem & Jewellery Creation, , Anil Kataria, DP Abhushan Ltd, Ajay Talla, Talla Jewellers, along with Special Guests Surendra Mehta, National Secretary-IBJA, Ankit Vaidya, Founder & CEO- Jewel Partner, Dharmendra Soni,Past President -GOWJA, Shampatlal Jain, President -Shree Manekchowk Sona Chandi Dagina Jewellers Association and dignitaries and leaders from the GJ industry.Present at the inauguration were GOWJA President Hitesh Soni and Vice President Akshay Mehta and GOWJA committee members.
Following the opening ceremony, Day 1 featured the Young Jewellers Summit (J20), highlighting the next generation of industry leaders. Designed to empower young entrepreneurs looking to scale emerging ventures or modernize legacy businesses, the summit presented actionable insights into modern retail strategies, technology integration, and sustainable growth.
The summit featured two flagship panel discussions:
- The New Rules of Jewellery Growth – Focused on modern scaling strategies, digital expansion, and evolving consumer preferences.
- Building a Business That Can Outlive You – Explored legacy preservation, professionalization, and tech-driven business transformation.
Day 2 saw accelerated commercial momentum as thousands of regional wholesalers, elite retail buyers, and trade delegates visited the exhibition halls. Exhibitors presented an extensive range of collections, spanning cutting-edge craftsmanship, lightweight daily wear, and heavy bridal jewellery.
Key highlights of Day 2 included:
- High-Volume B2B Engagement: Nationwide buyers placed substantial bulk orders, reflecting strong retail demand rebound ahead of the upcoming festive and wedding seasons.
- Operational Excellence: Streamlined visitor hospitality and floor management facilitated efficient business negotiations and trade deals.
- Knowledge Sharing: Industry seminars and walkthroughs addressed BIS hallmarking compliance, sustainable trade practices, and the integration of AI-driven inventory management tools.
GGJS 2026 wrapped up on a high note, delivering measurable business value to exhibitors and attendees alike. The event bridged classic craftsmanship with modern enterprise management, serving as an incubator for long-term partnerships and market growth. From empowering young entrepreneurs at the J20 Summit to facilitating high-value commercial transactions, this edition has demonstrated the resilience, dynamism, and future-readiness of the Indian jewellery sector.
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