Jewelbox is an online platform offering lab-grown diamond jewelry that has secured $ 3.2 million from V3 Ventures in its latest funding round. The funding saw the participation of several new and existing investors, including Atrium Angels, Samarthy Capital, and JITO Incubation & Innovation Foundation. The startup offers luxury jewelry through both offline and online platforms. The company plans to use these fresh proceeds to scale its operations and hire skilled employees. 

The company also plans to use part of this funding to expand its network and establish brand awareness. The jewelry brand is committed to making luxury jewelry more accessible, as well as more sustainable, through the use of lab-grown diamonds. The company offers accessories for special events as well as for every day. The diamonds are produced in a lab, but they are the same in physical, optical, and chemical composition as natural diamonds.

Company reportedly operates eight stores in six cities in India, such as Delhi, Bengaluru, Chennai, Guwahati, Kolkata, and Gurgaon. The jewelry brand is looking to have a total of 30 stores by 2025. The startup previously raised Rs 3.7 crore from JIIF, Rosebay Consultant, and other investors during its seed funding round. The startup data intelligence platform, tracxn, mentioned the post-money valuation of Jewelbox to be around 5.58 million USD during its last funding round.

The Kolkata-based startup operates online and offline through physical stores that target Tier I and Tier II cities in India. The company posted an annual revenue run rate of Rs 16 crore in FY24, which increased to Rs 38 crore for FY25. The company has four institutional investors, including JITO Incubation & Innovation Foundation, Touchstone Group, and Rosebay Consultant. 

The development came just after the lab-grown diamond business saw increased investor interest. Last month, Firefly Diamonds secured a $3 million investment from Westbridge Capital in its seed funding round. The investment shows V3 Venture’s trust in the Jewelbox’s market potential and business model. The jewelry brand faces competition from other companies in the same market segment, such as Limelight, Firefly Diamonds, and Fiona Diamonds.

Conclusion:

Lab-grown diamond brand, Jewelbox, raised 3.2 million USD in its pre-series A funding round from V3 Ventures. V3 Ventures led the round with the participation of Dexter Ventures, Infinyte Club, Atrium Angels, JIIF, and Samarthy Capital. The startup plans to use this fresh capital to expand its network, hire skilled employees, and develop its brand presence. 

The existing investor JIIF also invested Rs 3.7 crore in 2024 during the firm’s seed funding round. The company offers luxury jewelry and accessories for special occasions and daily wear. Jewelbox offers its services across six cities in India and aims to open 30 physical stores by the end of this year. The development came just after the lab-grown diamond sector gained attention.