Fine jewellery brand Coluxe closes friends and family funding round

Coluxe, a fine jewellery brand focused on lab-grown diamonds and coloured gemstones, has announced the close of its friends and family funding round.

The round saw participation from a group of prominent entrepreneurs and investors, including HCL co-founder Ajai Chowdhry, ICICI Ventures director Tej Kapoor, Appreciate Capital founding partner Sairee Chahal, Startup Sherpas, Kunal Chowdhry of Apollo Singapore Investments, Rachin Dewan of Rachin Dewan Ventures and Kunal Milwani of Synage.

The startup will use the fresh capital to launch its digital storefront in August and expand its product catalogue and operational infrastructure.

Founded earlier this year by Priyanka Gill, Coluxe aims to reimagine everyday luxury through modular, stackable jewellery crafted from certified lab-grown diamonds and coloured gemstones.

“Coluxe sits at the intersection of a powerful cultural shift and a massive category opportunity,” Gill said. “Lab-grown diamonds are unlocking access in a market where only 6% of gold jewellery buyers own a single diamond. At the same time, women are self-purchasing and seeking everyday fine jewellery that reflects their identity, not just tradition.”

Coluxe's entry comes amid a wider shift in India's $80 billion jewellery industry, long dominated by gold. The brand targets a growing cohort of urban Indian consumers looking for sustainable, design-forward alternatives that align with their personal values. Its modular approach allows customers to stack, mix and match pieces to create personalised combinations for daily wear.

The brand debuted earlier this month with a limited-edition Rakhi collection distributed via WhatsApp commerce. According to the company, the collection sold out within a week, serving as a test of both consumer demand and backend readiness.

The upcoming launch in August will feature over 300 stock keeping units across rings, earrings, pendants, bracelets and signature stacking sets. Coluxe also plans to release thematic collections around zodiac signs, gifting, manifestation and classic solitaires.