Jewelbox, a rising star in India’s D2C lab-grown diamond jewellery market, has secured $3.2 million (INR 27 crore) in a pre-Series A funding round led by V3 Ventures. The fresh capital will help the brand scale its presence across key tier-I and tier-II cities, including Ludhiana, Chandigarh, and Bhubaneswar, as it gears up to expand its retail footprint.
A New Age Diamond Brand with Ethical Roots
Founded in 2022 by the dynamic sibling duo Vidita Kochar Jain and Nipun Kochar, Jewelbox is carving a niche in the rapidly evolving Indian jewellery industry with its lab-grown diamonds. The brand offers a broad range of designs, including rings, earrings, pendants, and bracelets, targeting modern consumers who seek sustainability, affordability, and aesthetic value in fine jewellery.
Unlike traditionally mined diamonds, lab-grown diamonds are chemically and physically identical but come without the environmental and ethical concerns often associated with diamond mining. This makes them an increasingly popular choice among younger, conscious consumers—especially in urban and semi-urban India.
Strategic Expansion into Emerging Markets
Jewelbox’s immediate focus post-funding is to establish a stronger retail presence in cities like Ludhiana, Chandigarh, and Bhubaneswar—regions that have shown a rising appetite for luxury products and modern retail experiences. By entering these markets, Jewelbox is tapping into a growing demographic of affluent, fashion-conscious consumers who value sustainable luxury.
The company plans to use the new capital to invest in offline retail stores, brand building, and supply chain optimization, while also continuing to enhance its online D2C platform. This hybrid approach is aimed at delivering both convenience and trust to customers, offering them the ability to explore high-quality jewellery online or experience it in-person at exclusive outlets.
V3 Ventures’ Bet on Ethical Luxury
The funding round was led by V3 Ventures, a venture capital firm known for backing purpose-driven consumer brands. Their investment in Jewelbox signals strong investor confidence in the brand’s vision and the broader market potential of lab-grown diamonds in India.
With the demand for ethical, high-quality, and cost-effective jewellery growing steadily, Jewelbox is well-positioned to become a leading player in the segment. The global lab-grown diamond market is projected to reach billions in value, and India—with its strong jewellery heritage and tech-savvy population—is poised to be a major contributor to this trend.
A Bright Future Ahead
Jewelbox’s growth story reflects a broader shift in consumer preferences—towards transparency, sustainability, and modern craftsmanship. With a strong founding team, a clear value proposition, and fresh funding in hand, the brand is now set to make a deeper impact on India’s jewellery landscape.
As it expands its retail and online presence, Jewelbox aims to bring the brilliance of lab-grown diamonds to more homes across India—proving that luxury can be both beautiful and responsible.
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