National News
Palmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
Shraddha Kapoor-Backed Demi-Fine Jewellery Brand to Scale Offline Retail and Strengthen Market Presence
Palmonas, the Shraddha Kapoor-backed demi-fine jewellery startup, has raised $40 million (approx. Rs. 373 crore) in a Series B funding round, led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Venture

The fresh capital will be utilised to expand its offline retail footprint, building on its growing omnichannel presence across online platforms and physical stores.
Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor joining as co-founder, Palmonas operates in the demi-fine jewellery segment, offering affordable yet premium designs crafted from sterling silver and stainless steel with gold plating. The brand targets the space between fashion and fine jewellery, catering to a young, aspirational audience.


The company has seen rapid growth, with its operating revenue surging over 40X to Rs. 39 crore in FY25, up from Rs. 97 lakh in FY24. Notably, Palmonas also turned profitable, reporting a profit of Rs. 4.3 crore during the same period.
The brand had earlier raised Rs. 55 crore from Vertex Ventures and gained visibility through Shark Tank India Season 4, securing Rs. 1.26 crore funding from Namita Thapar and Ritesh Agarwal, at a Rs. 126 crore valuation.
Operating in a competitive space, Palmonas goes head-to-head with players such as GIVA, BlueStone, and Limelight Lab Grown Diamonds, as it continues to strengthen its position in India’s fast-growing demi-fine jewellery market.
National News
This Akshaya Tritiya, Begin A Legacy With Divine Solitaires’ Diamond Coin
A Modern Heirloom For Akshaya Tritiya, Blending Tradition, Rarity, and Enduring Diamond Value
Akshaya Tritiya is not just another festive date; it is a moment of belief, where every purchase is seen as the beginning of something enduring. For generations, it has been associated with purchases that carry forward value, meaning, and intent.
This year, Divine Solitaires reimagines this tradition with its Diamond Coin, a modern heirloom designed for those who seek more than just ritual, but a deeper sense of permanence in what they choose to own.
Crafted to mark new beginnings while holding long-term significance, the Diamond Coin brings together the emotional weight of the occasion with the enduring value of natural diamonds. It is not simply a festive buy, but a conscious purchase, one that is meant to stay, evolve, and be passed on.
The collection is available in three variants:
• 1-gram coin featuring a 0.10 carat diamond
• 2-gram coin featuring a 0.14 carat diamond
• 3-gram coin featuring a 0.18 carat diamond
Each coin features a rare Divine Solitaires diamond, cut in the iconic 8 Hearts 8 Arrows pattern, found in less than 1% of the world’s diamonds. With VVS clarity and EF colour, these diamonds appear icy white and colorless to the naked eye, delivering unmatched brilliance and fire.
Jignesh Mehta, Founder and Managing Director, Divine Solitaires, said,
“Akshaya Tritiya has always stood for an occasion that speaks of value and meaning. With the Diamond Coin, we wanted to move beyond the idea of a transactional purchase and create something that truly holds its worth over time. It brings together rarity, craftsmanship, and trust, making it not just relevant for the moment, but significant for years to come.”
Adding to its versatility, the coin comes with a complimentary enamel-finished jacket, allowing it to be worn as a pendant, transforming it from a symbolic purchase into something that can be experienced every day.
To make this offering more accessible, customers can book their Diamond Coin with an advance of INR 2,000.
Reinforcing its commitment to trust and transparency, every Divine Solitaires diamond is backed by a quality guarantee certificate, validating 123 rigorous quality checks, along with lifetime upgrade and buyback options.
This Akshaya Tritiya, the Divine Solitaires Diamond Coin invites consumers to look beyond tradition, and invest in something that is designed to last, both in value and in meaning.
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