DiamondBuzz
Solitario Secures $3.6 Million in Pre-IPO Funding to Accelerate Growth
The lab-grown diamond brand plans to expand its retail presence, enhance branding, and diversify its product offerings with the new capital
Solitario, a lab-grown diamond jewelry brand co-founded by Ricky Vasandani and actor Vivek Oberoi, has raised $3.6 million in pre-IPO funding, valuing the company at approximately $18.3 million. The investment round saw participation from high-profile investors, including Neeraj Gupta, Seema Manish Nuwal, and several ultra-high-net-worth individuals.
The funds will be used to expand Solitario’s retail network, both in India and internationally, as well as to strengthen its branding, marketing initiatives, and product portfolio. The company also plans to enhance its manufacturing capabilities to keep up with growing demand.
Founded in 2023, Solitario specializes in sustainable and eco-conscious diamond jewelry, offering a range of products including necklaces, rings, earrings, bracelets, and pendants. The company has quickly established a presence in the market, reporting revenue growth from Rs 24.3 crore in FY 2023 to Rs 52 crore in FY 2024.
Solitario currently operates 18 stores across 10 major cities in India, along with 38 outlets in international locations such as Dubai, Malaysia, and Spain. The company runs a 30,000 sq. ft. manufacturing facility in Surat, which employs over 300 people.
Â
DiamondBuzz
World’s First Lab-Grown Diamond In Space – COSMOS x Skyroot – Taking Indian LuxuryBeyond Earth
In a first-of-its-kind collaboration, Cosmos Diamonds has partnered with Skyroot Aerospace to send India’s first lab-grown diamond jewel into space. At the heart of the mission is the Cosmos Bloom Diamond, a lotus-inspired creation handcrafted in 18 kt gold and adorned with 16 carats of lab-grown diamonds, all grown and crafted in India. Valued at Rs 11 lakh that brings together Indian craftsmanship, innovation, and heritage.
To celebrate the milestone, Cosmos has unveiled The Cosmic Bloom Collection, a limited-edition series, inspired by the space bound jewel. The brand has also applied to Asia Records to be recognized as the first diamond jewellery brand from India to send a diamond jewel into space.
Blending fashion, technology, and storytelling, the collaboration marks a defining moment for modern Indian luxury where jewellery is no longer just worn, but becomes part of history.
Stores: Bangalore, KA & Vijayawada, AP
-
National News3 hours agoGJEPC Delegation Outreach In Sydney Strengthens India–Australia Jewellery Trade Ties
-
National News6 hours agoLalithaa Jewellery Mart IPO Opened At ₹190–₹201 Per Share
-
New Premises4 hours agoThangamayil Jewellery Opened 2 New Stores In Chennai
-
GlamBuzz6 hours agoActor Harshvardhan Rane Announced As The Face Of Ti22 By Aham- A Titanium With Gold and Diamonds Collection By Senco Gold and Diamonds
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.