Jewelbox, a lab-grown diamond jewellery brand, raises $3.2 million to amplify its presence

Jewelbox, a lab-grown diamond jewellery brand, today said it has raised $3.2 million in a pre-Series A funding round led by V3 Ventures.

Other co-investors joining the round included Atrium Angels, Dexter Ventures, Infinyte Club, and Samarthya Capital, amongst others. Existing investor JIIF also participated in the round. Jewelbox was exclusively advised by Dexter Capital Advisors on this transaction.

Jewelbox's offerings

Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, the brand blends craftsmanship, sustainability, and accessibility. It offers exquisite designs for both everyday and occasion wear. With a growing retail presence and a robust e-commerce platform, Jewelbox is rapidly expanding across India.

"This milestone investment reaffirms our vision," Vidita Kochar Jain, Co-Founder of Jewelbox.

"The lab-grown diamond industry is witnessing an inflection point, shifting from niche to mainstream as consumers embrace sustainable luxury. At Jewelbox, we've always believed in pioneering this transformation, and our journey over the past three years has been a testament to the growing demand for conscious alternatives."

Purpose of fundraising

Jewelbox plans to use the raised cpaital to fuel its ambitious journey across India through franchise and company owned stores, amplify its brand presence, and hire talent. 

The startup claims to have quadrupled its monthly revenue rate over the past 12 months, expanding from a modest presence of three retail establishments to a network of eight strategically located luxury boutiques. It is now present in six major cities, including Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati.

It also plans to expand the footprint to 30 stores across major Tier 1 and Tier 2 cities

"With this latest funding milestone, we are poised to accelerate our expansion, strengthen our market presence, and continue shaping India's leadership in the global lab-grown diamond space," Jain added.

"At V3 Ventures, we're excited about the potential of lab-grown diamonds to truly democratize access to luxury in India. Less than 6% of Indians own diamonds today. And, we love jewelry so, this category is ready for disruption. What impressed us most about Jewelbox is the team's ability to execute flawlessly across online and offline channels, even outside their home markets. They're building a brand with purpose, scale, and serious momentum — and we're proud to back them, " said Arjun Vaidya, Co-founder and Managing Partner of V3 Ventures.