Firefly Diamonds Bags $3 Mn Seed Funding Led By WestBridge Capital

Lab-grown diamond jewellery brand Firefly Diamonds has raised $3 million in its seed funding round led by WestBridge Capital. 

The startup will use the funds to expand its retail presence, strengthen its digital reach, and invest in R&D for unique jewellery collections.

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“Our brand is built on a legacy of trust, innovation and craftsmanship. With over 60 years of expertise in jewellery manufacturing and design, we ensure that every piece reflects unparalleled quality and excellence… With this funding, we wish to usher in a new era of Indian luxury, that celebrates beauty, individuality, and the art of fine craftsmanship,” said Adit Bhansali, co-founder of Firefly Diamonds.

This comes as competition in India’s $2.6 billion lab-grown diamond market is increasing. Many startups in this space have recently secured funding or are in talks with major investors.

About Firefly Diamonds 

Founded in December 2023 by Adit and Aayush Bhansali, Firefly uses advanced technology to create lab-grown diamonds that have the same qualities as mined diamonds but with a much lower environmental impact. It offers fine jewellery in 14K and 18K gold.

Currently, the brand has stores in Mumbai, Pune, Bengaluru and Hyderabad, with plans to expand to over 20 locations in the next two years.

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