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.
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DiamondBuzz
VBJ Partners With Ignition 2026 To Celebrate Ideas, Culture and Craftsmanship
VBJ, Vummidi Bangaru Jewellers, one of South India’s most trusted heritage jewellery brands, partnered with IGNITION, the acclaimed thought leadership platform presented by the Shiv Nadar Foundation and curated by award-winning journalist Shoma Chaudhury. Held at ITC Grand Chola, Chennai, the event brought together distinguished voices from diplomacy, cinema and international affairs, while VBJ showcased its latest PARRO – Signature Collection, celebrating exceptional craftsmanship inspired by nature.
The evening featured compelling conversations with Dr. Abdul Majid Hakeem Ilahi, representative of Iran’s Supreme Leader, who shared perspectives on the evolving geopolitical landscape in West Asia; acclaimed actor Ali Fazal, who reflected on his artistic journey from Indian cinema to Hollywood; and former Foreign Secretary Vijay Gokhale, who discussed the changing global order and insights from his latest book, China’s Wars.


Adding an artistic dimension to the evening, VBJ unveiled a curated display of its PARRO – THE SIGNATURE PARROT COLLECTION, an exclusive line inspired by the grace, vibrancy and symbolism of the parrot. Combining intricate craftsmanship with contemporary design sensibilities, the collection reflects VBJ’s enduring commitment to transforming nature into timeless wearable art.
Speaking on the occasion, Amarendran Vummidi, Managing Partner, VBJ, said:

“IGNITION has established itself as a platform where influential voices come together to spark conversations that shape perspectives. At VBJ, we believe that meaningful ideas and enduring craftsmanship both have the power to inspire generations. Our continued association with IGNITION reflects our commitment to supporting platforms that celebrate excellence, dialogue and creativity.”
Jithendra Vummidi, Managing Partner, VBJ, added:
“The PARRO collection embodies our pursuit of artistry that is rooted in heritage yet resonates with contemporary lifestyles. Presenting it at IGNITION, a forum that celebrates ideas, innovation and culture, is a fitting way to showcase how timeless craftsmanship continues to evolve while staying true to its origins.”

As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage. Continuing this legacy, VBJ is now set to unveil its largest jewellery showroom on Coimbatore’s 100ft Road.
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