Lab-grown diamond jewellery brand Réia Diamonds raises Rs 2 crore in funding to expand presence

Lab-grown diamond jewellery brand Réia Diamonds has raised Rs 2 crore in a pre-seed funding round led by Dinesh Talera and family, founders of Mysore Saree Udyog, with participation from Venture Catalysts.

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The Bengaluru-based startup plans to deploy the capital to expand its engagement ring and everyday jewellery collections, strengthen its retail and omnichannel presence, and accelerate product innovation.

Founded in 2023 by Prapanjj S K Kota, Jacob Mathew and Ashwanth Ramesh, Réia Diamonds offers certified lab-grown diamonds that are chemically and optically identical to mined stones. The brand focuses on modern, minimal designs crafted to appeal to the contemporary Indian woman, blending innovation with traditional craftsmanship.

Since inception, Réia Diamonds has built three profitable stores across Bengaluru, Guwahati, and Coimbatore and operates through a franchise model that supports rapid, asset-light expansion.

The startup said the fresh infusion will help it reach more consumers, particularly in the growing lab-grown diamond market in India, which is estimated at $300-350 million in 2024 and projected to expand at around 15% CAGR over the next decade, driven by demand for affordable and ethical diamond jewellery.

Prapanjj S K Kota, Founder & CEO, Réia Diamonds, said, “This funding allows us to accelerate Réia’s growth, expand our retail presence and distribution, and reach more women across India with our modern, versatile, and ethically crafted jewellery. Engagement rings remain at the heart of our offering, alongside everyday designer pieces designed to celebrate individuality, elegance, and life’s moments. With this support, we can innovate faster, serve our customers better, and make diamond ownership aspirational yet attainable for every woman.”