National News
Major Gold Reserves Unearthed in Odisha: A Game-Changer for India’s Mining Industry
Odisha’s Gold Discovery Sparks Optimism for Growth in the Mining Sector, with Plans for Large-Scale Auction Underway
Odisha has emerged as a promising new hub for gold mining, following the discovery of vast gold reserves across several districts. Bibhuti Jena, the state’s Mines Minister, confirmed the exciting find and announced ongoing exploration efforts. The state is set to hold a large-scale auction of gold mining blocks in the near future to capitalize on this newfound potential.
Key districts such as Sundargarh, Nabarangpur, Keonjhar, and Deogarh have been identified as hotspots for the gold reserves. Exploration is also expanding to regions like Malkangiri, Sambalpur, and Boudh, with more discoveries anticipated. In Mayurbhanj, areas like Jashipur, Suriaguda, Ruaansi, Idelkucha, Maredihi, Suleipat, and Badampahad are under investigation for their mineral potential.
One of the most notable discoveries has been in Deogarh district, specifically in Adasa-Rampalli, an area where gold traces had been found earlier. The Geological Survey of India (GSI) is actively conducting G-2 level exploration in this region, revealing the possibility of multiple mineral resources, including copper.
Keonjhar district is also a key focus for gold exploration, with surveys being carried out in areas like Gopur-Gazipur, Mankadchuan, Saleikana, and Dimirimunda. These efforts form part of Odisha’s larger strategy to develop its mining industry and fully utilize its untapped mineral wealth. The state government is closely involved, and the upcoming auction of gold mining blocks in Deogarh is seen as a major step forward.
The exploration is being carefully monitored by state authorities, the GSI, and the Odisha Mining Corporation, with technical committees set to review the final exploration reports to assess the viability of commercial mining. Early findings suggest promising potential, and final results are expected by the end of 2025.
This discovery further solidifies Odisha’s reputation as a mineral-rich state, while positioning India as a key player on the global mining stage. If the reserves prove commercially viable, the gold deposits could provide a significant economic boost, drawing both domestic and international investments into the country’s mining sector.
National News
So/Facet Raises ₹10 Crore Led By Sauce To Build The Diamond Brand That Young India Has Been Missing
Mokobara’s Co-Founders, The Chona Family Office, Haleon South Asia’s Kedar Lele and Moonshot’s Devaiah Bopanna Also Invest; Brand Launches Online in November and Targets 30+ PremiumSstores In Three Years
So/Facet, a premium lab-grown diamond jewellery brand founded by former Unilever leaders Aarushi Agrawal Naulakha and Abhishek Naulakha, has raised ₹10 crore in a seed round led by Sauce – its first institutional funding and the fund’s first investment in the category.
The round also saw participation from Mokobara co-founders Sangeet Agrawal and Navin Parwal; the Chona family office, behind HOCCO Ice Creams; Kedar Lele, President, Haleon South Asia; and Devaiah Bopanna, Co-founder, Moonshot. The capital will support brand building, design, technology, hiring and an omnichannel rollout. So/Facet launches online in November 2026 and aims to open over 30 premium stores in three years.
For decades, diamonds have been tied to prescribed occasions: proposals, weddings and anniversaries. Lab-grown diamonds have changed the economics, but much of the storytelling remains the same. So/Facet sees an opportunity to create a distinct identity for lab-grown diamonds – not as an affordable substitute, but as objects of self-expression, as personal as sneakers, watches or fashion. Its name reflects the many facets of a diamond and the many versions of the person wearing it. Its defining question, “What’s yours?”, invites people to celebrate moments on their own terms.
stayed outside that conversation
Aarushi Agrawal Naulakha, Co-founder, So/Facet said:

“Our generation expresses who we are through everything we wear, yet diamonds somehow stayed outside that conversation,”
“Why should a diamond need a proposal or someone else to gift it to you? It could mark the job you landed, the job you quit, the relationship you walked away from – or a Tuesday that simply felt like yours. We want people to decide what their diamonds mean. That’s the spirit of ‘What’s yours?“
Designed in-house, So/Facet’s six launch collections feature IGI-certified lab-grown diamonds, unusual cuts and contemporary design. So/Me brings playful shapes such as stars and butterflies; So/Pop pairs diamonds with colourful, stackable enamel charms; and So/Icon explores sculptural, design-led jewellery. Beyond design, So/Facet is building a technology-enabled, omnichannel experience that makes discovering, buying and upgrading diamond jewellery seamless across digital and physical touchpoints. The brand wants to make diamonds something customers can continually evolve with, rather than a purchase reserved for a single milestone. It has already built a pre-launch waitlist of over 200 potential customers.
Abhishek Naulakha, Co-founder, So/Facet said:
“We don’t believe India’s next great diamond brand will be built by selling the same jewellery for less,”

“It will be built on distinctive design, uncompromising quality and craftsmanship, and an experience that feels effortless – from the first discovery to every purchase and upgrade. We’re bringing together the timeless appeal of diamonds with a new-age approach to design, technology and retail. Our ambition is to build an iconic global brand, born in India, that makes diamonds relevant to a new generation.”
Manu Chandra, Managing Partner, Sauce said:

“Lab-grown diamonds have transformed the category’s economics, but few brands have reimagined what diamonds can mean.”
“Aarushi and Abhishek combine deep consumer-marketing experience with a sharp instinct for culture. So/Facet has the potential to build lasting desire, not just demand driven by price.”
Aarushi, a MICA Ahmedabad alumna and E4M 30 Under 30 honouree, held marketing roles & has 6 years of work ex across ITC and Unilever, including work on Dove and TRESemmé, and has a community of over 100,000 across Instagram and LinkedIn.
Abhishek, an IIM Ahmedabad and SRCC alumnus, spent seven years at Unilever in India and global sales and marketing roles, most recently as Global Beauty & Wellbeing Channel & Portfolio Lead.
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