Design-first fine jewellery brand Lucira raises $5.5 million to launch its first retail store in Mumbai

Lucira Jewelry, a design-first fine jewellery brand working with lab-grown diamonds and recycled gold, has raised $5.5 million in its maiden seed funding round.

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The funding was led by Blume Ventures, with participation from Spring Marketing Capital, SiriusOne Capital Fund, and several angel investors, including the founders of Dot and Key, Livspace, Snitch, and Bewakoof.com.

Founded in May 2025 by Rupesh Jain and Vandana Jain, Lucira has built a catalogue of nearly 1,000 customisable designs certified by IGI, GIA, SGL, and BIS, supported by lifetime exchange and buyback guarantees. The startup positions itself as a sustainable and accessible luxury brand for modern Indian consumers, combining transparent sourcing with contemporary design.

The startup plans to use the raised capital to launch its first retail store in Mumbai this month, marking the beginning of its offline journey. It plans to establish four additional stores by FY26, scale its design studio, hire top talent, and enhance its technology backbone.

Its omnichannel strategy is geared toward capturing 80% of revenue from offline channels while maintaining a strong online presence.

“Indian consumers are moving beyond viewing jewelry purely as an investment. They are seeking design, authenticity, and a brand they can emotionally connect with,” said co-founder Rupesh Jain.

“This fundraise is a validation of the opportunity we see in India’s fine jewelry market and will help us strengthen our design leadership, expand our omnichannel presence, and deepen consumer trust.”

Blume Ventures’ Managing Partner, Karthik Reddy, noted that Jain had already demonstrated success in the category with Candere’s exit.

“What excites us most is Lucira’s omnichannel vision that is seamlessly blending cutting-edge digital experiences with physical retail. The speed of execution, combined with Rupesh’s deep understanding of Indian jewelry consumers, makes Lucira a strong contender to build the next category-defining brand.”