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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.

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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.

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Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection

A Celebration Of Regal Femininity, Heirloom Craftsmanship, and The Refreshing Depth Of Emeralds.

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June 2026 A bride’s jewellery is never merely ornamental, it carries sentiment, memory, and the quiet power of tradition. With its newest Polki Collection, Harit Zaveri Jewellers introduces a refined take on royal Indian bridal jewellery, thoughtfully designed for the modern bride who embraces heritage while expressing her individuality with confidence and grace.

Crafted between 18kt to 14kt gold and enriched by Emeralds, Harit Zaveri Jewellers Polki collection celebrates a bride in her most transformative moment – poised between reflection and becoming. Every jewellery piece in the collection is designed to accompany her through this pause.

At the heart of the collection lies the richness of polki craftsmanship – raw, uncut diamonds admired for their old-world charm and regal appeal, long associated with royal Indian heirlooms. Paired with vivid emeralds, known to symbolise renewal, harmony, love, and abundance, the collection brings together heritage and elegance. The richness of green emeralds adds depth and freshness, creating jewels that feel both classic and strikingly modern.

The collection features an expansive range of statement and versatile pieces including necklaces, kadas, rings, earrings, and bridal sets, thoughtfully embellished with emeralds, pearls, and polki detailing.

This collection from Harit Zaveri Jewellers compliments classic reds and heritage weaves to contemporary ivories, pastels, and couture silhouettes. Whether layered with a traditional lehenga, paired with a modern sari drape, or styled for intimate pre-wedding celebrations, these pieces seamlessly adapt while elevating every bridal look with a quiet majesty.

These pieces are envisioned as modern heirlooms, where meticulous craftsmanship, precious materials, and timeless artistry come together to create pieces worthy of being passed down through generations.

Harit Zaveri, Joint Managing Director at Harit Zaveri Jewellers said:

“At Harit Zaveri Jewellers, we have always believed bridal jewellery should feel personal, something that reflects a bride’s story and individuality. Many of our clients naturally gravitate towards one-of-a-kind pieces that resonate with their personality and become part of their memories for years to come. With this Polki collection, we wanted to celebrate craftsmanship with the richness of emeralds, a stone that beautifully complements a variety of bridal colours and effortlessly completes a look. Above all, quality remains at the heart of everything we create because we believe jewellery should feel as enduring as the memories and moments attached to it.”

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