National News
Shraddha Kapoor-Backed Palmonas Raises ₹55 Cr in Series A to Fuel Nationwide Retail Expansion
Pune-based demi-fine jewellery brand Palmonas has raised ₹55 crore in its Series A funding round, led by Vertex Ventures Southeast Asia and India, a subsidiary of Temasek.
This marks the company’s first institutional fundraise, aimed primarily at scaling its offline footprint across India.
With 25 stores already operating in metro and tier-2 cities, Palmonas now plans to launch 100 company-owned outlets, with a focus on key markets such as Mumbai, Delhi, Bengaluru, Hyderabad, and Pune. The expansion strategy will also explore emerging cities like Aurangabad and Bhagalpur, with 60% of the stores located in malls, 40% on high streets, and a few in airports.
The new capital will also support team expansion and product innovation, particularly in the nine-carat gold segment paired with lab-grown diamonds—a fast-growing category amid surging gold prices and new hallmarking norms.
Palmonas has shown steady financial growth, with revenue increasing from ₹3.83 crore in FY23 to ₹5.38 crore in FY24, though it reported a net loss of ₹1.24 crore.
Prior to this round, Palmonas had raised about ₹7 crore from angel investors and its appearance on Shark Tank India, where it secured investment from Namita Thapar (Emcure Pharmaceuticals) and Ritesh Agarwal (OYO).
The funding comes at a time of increased investor interest in jewellery startups, particularly those innovating in lab-grown and demi-fine segments. Competitors like Aukera, True Diamond, Amama, and Coluxe have also raised capital recently. Meanwhile, larger players such as GIVA, Lalithaa Jewellery Mart, and BlueStone are tapping into the public and private markets to scale operations.
BrandBuzz
The Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
Timeless pearl creations from GIVA that honour the quiet strength, elegance, and individuality of modern women.
For generations, pearls have defined timeless elegance — an evergreen classic that transcends trends and seasons. Effortlessly refined, they carry a quiet sophistication that has remained relevant across eras.
Neither fleeting nor ornamental, pearls embody a kind of understated luxury, graceful, enduring, and always in style.
This Women’s Day, GIVA celebrates women who are building, leading, choosing, and redefining life on their own terms. Women who don’t need to be loud to be powerful, because their presence speaks for itself.
In that spirit, pearls make for a meaningful gift. Timeless yet modern, they move effortlessly from everyday moments to milestone celebrations, making them a thoughtful way to honour the women who inspire us, whether it’s a mentor, a friend, a colleague, or even yourself.
Here are some pearl pieces that make for perfect Women’s Day gifts.
Stay With Me Golden Pendant With Link Chain
For the one who wears her heart unapologetically. A radiant pearl drop pendant set in gold-plated 925 silver, designed with an elegant lattice motif that blends timeless romance with modern craftsmanship. From the Barkha Singh x GIVA Glow in Motion collection, this piece celebrates intricate CNC artistry while offering a refined statement for everyday elegance.
Gold Pearl Centred Diamond Earrings
Elegant and timeless, these 18K BIS-hallmarked gold earrings feature a delicate circular motif with a luminous pearl at the centre, accented by sparkling lab-grown diamonds below. Designed for everyday luxury, they blend classic sophistication with modern brilliance, making them a graceful statement for any occasion.
Rose Gold On Mom’s Path Bracelet
A heartfelt rose gold-plated bracelet crafted in 925 silver, featuring a charming baby shoe motif with enamel detailing, a delicate pearl accent, and a subtle “mom” engraving. Thoughtfully designed to celebrate the unbreakable bond between a mother and her child, it makes for a meaningful keepsake.
Anushka Sharma Silver Drops of Pearls Set
Inspired by the hidden beauty of ocean pearls, the Anushka Sharma Silver Drop of Pearl Set captures effortless elegance with a graceful pearl drop and sparkling zircon accents. Crafted in 925 silver, the set includes a delicate pendant and matching earrings designed to add timeless charm to any look.
Rose Gold Glam Drops Necklace
Graceful and statement-making, this rose gold-plated lariat necklace in 925 silver features a central oblong pearl with delicate cascading strands ending in luminous pearls. Elegant yet contemporary, it’s the perfect piece to elevate evening looks and special occasions with effortless glamour.
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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.