National News
Saurabh Gadgil launches JYPL 2025, JYPL Auction at a dazzling evening of celebration and competition
It was an evening of pomp and splendour at The White Resort and Spa Pawna, Lonavala to celebrate the launch of Jewellery Youth Premier League (JYPL) Season 8 and kick off the JYPL Auction. It was made all the more special with an icon of the jewellery industry, Dr. Saurabh Gadgil, CMD, PNG Jewellers, gracing the event with his distinguished presence. His heartfelt address at the launch encouraged and motivated the organizers and participating teams.The JYPL Auction was conducted on par with global sports auctions, providing a large dose of excitement and tension.
JYPL Season 8 will take place from March 5-9, 2025 at Central Railway Ground, Parel, Mumbai. The exciting tournament will see 260 players (all owners representing the jewellery industry) and 300+ companies associated with the industry. Over 2500 attendees are expected to catch all the action.
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.
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P. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
P. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
Palmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
Botswana Stepping Up Diplomatic Efforts To Complete The Removal Of US Tariffs
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New Premises5 hours agoP. N. Gadgil & Sons Expands in Pune with New Store at Tribeca Highstreet; Launches 9KT Collection
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National News8 hours agoPalmonas Raises $40 Million in Series B, Accelerates Omni-Channel Expansion
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DiamondBuzz5 hours agoBotswana Stepping Up Diplomatic Efforts To Complete The Removal Of US Tariffs
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BrandBuzz4 hours agoTriptii Dimri Launches Hues By Tanishq; Collection Showcases The Vibrant Colours Of Natural Gemstones
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