Lab-grown jewellery brand Aukera Jewellery raises Rs 26.7 crore: Report

Bengaluru-based lab-grown jewellery brand Aukera has reportedly raised Rs 26.7 crore or around $3.2 million in a Series A funding round led by Fireside Ventures, with participation from Sparrow Capital and Eternal Emerging Enterprises.

Fireside Ventures invested Rs 23.75 crore, and Sparrow Capital and Eternal Emerging Enterprises also participated, investing Rs 1.39 crore and Rs 1.57 crore, respectively.

According to Entrackr's report, the round valued the startup at Rs 124 crore or $15 million post-allotment.

Purpose of fundraising

With this round of funding, Aukera aims to expand its operations and support general corporate activities.

Following this investment, Fireside Ventures now holds a 19.20% stake in Aukera, while Sparrow Capital and Eternal Emerging Enterprises hold 7.59% and 5.89%, respectively.

Additionally, the startup has expanded its Employee Stock Option Plan (ESOP) by adding 1,180 options to the existing 1,896 options, valued at Rs 6.20 crore.

Focusing on sustainability and women-centric designs

Founded in 2023 by Lisa Mukhedkar, Aukera is a women-centric jewellery brand specialising in lab-grown diamond jewellery in white, rose, yellow gold, and platinum.

The startup operates as an omnichannel brand with a strong presence both online and in physical stores.