Jewelbox Raises $3.2Mn Funding From V3 Ventures, Others

Jewelbox, a D2C lab-grown diamond jewellery brand has raised $3.2 million (about Rs 27 Cr) in its pre-Series A funding round led by V3 ventures. 

Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital and existing backer JITO Incubation & Innovation Foundation (JIIF) also participated in this round.

Funding Utilisation

The startup plans to use the fresh funds to open more stores. The company plans to grow from 8 stores to 30 by the end of the year through co-owned and franchise models.

It aims to expand into tier-I and tier-II cities like Ludhiana, Chandigarh, and Bhubaneswar, and also strengthen its presence in big cities like Delhi and Bengaluru.

Lab-grown diamonds are created in controlled labs using advanced methods like CVD and HPHT. They look just like natural diamonds but are more affordable.

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“The competition in the lab-grown diamond space is heating up and attracting a lot of attention. But I see it positively, whether it’s legacy players, established entrepreneurs, or newcomers entering the space, it means more validation for the category,” said, Vidita Kochar Jain cofounder of Jewelbox.

“At V3 Ventures, we’re excited about the potential of lab-grown diamonds to truly democratise access to luxury in India. Less than 6% of Indians own diamonds today. And we love jewellery so, this category is ready for disruption,” said Arjun Vaidya, cofounder and managing partner, V3 Ventures.

About Jewelbox 

Founded in 2022 by brother and sister duo Vidita Kochar Jain and Nipun Kochar, Jewelbox is a lab-grown diamond brand that offers jewellery like rings, earrings, pendants and bracelets.

It sells its products both online and in physical stores.

In FY25, Jewelbox reached an annual revenue run rate of Rs 38 crore, up from Rs 16 crore the year before. In March 2024, the company raised Rs 3.7 crore in seed funding from JIIF.

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