Jewelbox, a fast-growing lab-grown diamond jewellery brand, has successfully raised $3.2 million in a pre-Series A funding round. The funding was led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, and Samarthya Capital. Existing investor JIIF also contributed to the round. Dexter Capital Advisors acted as the exclusive financial advisor for this transaction.
Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox has positioned itself at the intersection of craftsmanship, sustainability, and affordability. The brand designs luxury lab-grown diamond jewellery suitable for both everyday and special occasions. It operates through both offline and online channels, using a strong e-commerce platform and expanding its physical stores across multiple Indian cities.
The newly raised capital will support Jewelbox’s plan to grow its presence across India by launching more franchise and company-owned stores. The company also plans to invest in brand marketing and talent acquisition. In the last 12 months, Jewelbox has quadrupled its monthly revenue and expanded from three stores to eight luxury boutiques in top-tier cities. Its current retail footprint covers Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati.
Jewelbox Plans 30 Stores in Tier 1 And Tier 2 Cities
With strong market traction and increasing consumer demand for sustainable luxury, Jewelbox now aims to expand its store count to 30 in the near future. These stores will be opened in key Tier 1 and Tier 2 cities, further solidifying the brand’s presence across the country. Co-founder Vidita Kochar Jain expressed that the investment marks a milestone in their journey to make lab-grown diamonds a mainstream choice for Indian consumers.
Commenting on the funding, Arjun Vaidya, Co-founder and Managing Partner at V3 Ventures, said he is confident about the growing future of lab-grown diamonds in India. He emphasized that less than 6% of Indians currently own diamonds, leaving huge potential for affordable luxury alternatives like those offered by Jewelbox. Vaidya praised the Jewelbox team for executing successfully across both online and offline platforms, even outside their core markets.
As consumer preferences shift toward environmentally friendly and affordable luxury, Jewelbox’s strategic funding round is expected to speed up its efforts to become a leading name in India’s growing lab-grown diamond jewellery space.
