Aukera, a company that produces jewels using lab-grown materials, has successfully raised Rs 26.7 crore (roughly $3.2 million) in its Series A funding round. The funding was primarily driven by Fireside Ventures.
The company intends to utilize these funds for the purpose of expanding its operations and supporting its overall corporate activities, as determined by the board of directors.
This marks the inaugural institutional investment for a one-year-old omnichannel company that primarily specializes in the trade of diamonds.
The board of directors at Aukera Jewellery has approved a special resolution to issue 10 equity shares and 8,155 Series A Cumulative Convertible Preference Shares (CCPS) at an issue price of Rs 32,713 each, with the aim of raising Rs 26.7 crore.
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After receiving new funds, Fireside Ventures now has a substantial 19.20% share in the company, while Sparrow Capital and Eternal Enterprises will have ownership of 7.59% and 5.89% respectively in Aukera Jewellery.
Aukera is a jewelry brand that focuses on women and provides jewelry made with lab-grown diamonds in various colors such as white, rose, yellow gold, and platinum. The company distributes its items via its online platform and operates two physical retail locations in Bengaluru.
About Aukera
Founded in 2023 by Lisa Mukhedkar, Aukera is a women-centric jewelry brand that offers lab-grown diamond jewelry in white, rose, yellow gold, and platinum. It sells its products through its website and has 2 stores in Bengaluru.
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