Bengaluru-based diamond jewellery brand Aukera has raised $15 million in funding to accelerate its next phase of expansion. The round was led by Peak XV Partners and included continued support from investors like Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.
With this fresh capital, Aukera plans to grow its retail network, improve product lines, and invest in design innovation and marketing strategies. The startup wants to capture a bigger share of India’s growing interest in lab-grown diamond jewellery.
Retail and Design Expand
Aukera currently operates 13 company-owned stores across major cities such as Bengaluru, Hyderabad, and parts of Delhi NCR. The brand uses an omni-channel approach, combining its physical outlets with a strong digital presence to offer convenience and reach.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera focuses exclusively on lab-grown diamonds. These stones are IGI-certified and come with customization options, blending contemporary styling with traditional elements.
Sustainability Drives Demand
Lab-grown diamonds are gaining popularity as consumers seek sustainable and ethical alternatives to mined diamonds. The lab-grown segment in India is currently worth around $2.6 billion and continues to grow rapidly as awareness spreads.
Kumar Saurabh, co-founder of Aukera, said the investment is a major step forward for the brand. “Aukera is challenging the status quo. This investment is meaningful as we pursue our next phase of growth,” he noted.
Investors Back Vision
Abhishek Mohan from Peak XV Partners believes that the brand is well-positioned to lead India’s lab-grown diamond movement. He pointed to changing consumer preferences and structural industry shifts as key tailwinds.
Fireside Ventures, an early backer, shares the optimism. Kanwaljit Singh, Managing Partner, remarked that Aukera isn’t just another jewellery brand, it’s aiming to redefine how fine jewellery is viewed and purchased in India.
Eyes on Future Goals
Looking ahead, Aukera plans to scale up to Rs 1,000 crore in revenue over the next five to seven years. The company will focus on entering new markets, opening more stores, and building brand visibility to stay ahead in this fast-changing sector.
