Aukera Jewellery, a fast-growing lab-grown jewellery brand, has successfully secured INR 26.7 crore (approximately USD 3.2 million) in its Series A funding round. This marks the brand’s first institutional investment since its establishment just a year ago.
Aukera Investment Details
The Series A round was led by Fireside Ventures, which contributed a substantial INR 23.75 crore. Other participants in the round included Sparrow Capital, which invested INR 1.39 crore, and Eternal Emerging Enterprises, which added INR 1.57 crore. This funding round highlights significant interest from investors in Aukera’s innovative approach to jewellery design.
Aukera’s board has approved the issuance of 10 equity shares and 8,155 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of INR 32,713 each. This financial boost is expected to support the brand’s expansion efforts and other corporate objectives.
Investor Stakes and ESOP Expansion
With this new investment, Fireside Ventures now holds a 19.20% stake in Aukera Jewellery, while Sparrow Capital and Eternal Emerging Enterprises hold 7.59% and 5.89%, respectively. These strategic investments underscore the confidence these investors have in Aukera’s potential for growth in the competitive jewellery market.
In addition to securing funding, Aukera Jewellery has also expanded its Employee Stock Option Plan (ESOP). The company has added 1,180 options to the existing 1,896, bringing the total ESOP value to INR 6.20 crore. This move reflects Aukera’s commitment to rewarding and motivating its employees, reinforcing its belief in shared success.
About Aukera Jewellery
Founded in 2023, Aukera Jewellery is a women-centric brand specializing in lab-grown diamond jewellery. The brand offers a diverse range of jewellery, including pieces in white, rose, yellow gold, and platinum. Aukera operates through its website and has two physical stores in Bengaluru, signaling its growing presence in the Indian market.
This Series A funding round is expected to help Aukera Jewellery further establish its footprint in the market and continue its mission to bring sustainable, lab-grown diamond jewellery to a wider audience. The brand’s focus on innovation and sustainability positions it as a strong player in the evolving jewellery industry.
