ONYA has closed a large funding round, raising ₹5.5 crore of funds in pre-seed funding. The brand stands out by using the offline-first approach, making it the fastest-growing company in that specific market segment in India. This inflow of capital comes at a critical time, at a point when there is a marked increase in demand and acceptance of lab-grown diamonds in the Indian subcontinent. The new capital will be strategically invested to accommodate the aggressive growth of the physical retail presence of ONYA into major metropolitan regions across the nation, which will be an indication of the brand having faith in its physical store-based consumer engagement methodology.

Capital infusion

Zeropearl VC led the pre-seed round of funding, which highlights the confidence that the venture firm had in the potential of the high-end lab-grown diamond market. In addition to the lead investor, the round saw engagement of a wide and influential variety of high-profile angel investors and industry leaders. Some of the prominent participants were the co-founders of MyGate, specifically Vijay Arishetty, Abhishek Kumar, and Shreyans Daga, as well as Rohit Jindal.

Beyond reflecting the industry-wide backing, the investment was contributed by Amal Mishra, who is the founder of Urban Vault, and Alkendra Pratap Singh, who is the Managing Director of Crescendo Industries Pvt. Ltd. and Director of KE Engineers Pvt. Ltd., among others. This group investment confirms the model of ONYA and its high-growth rate in the Indian retail market.

The Founder of ONYA, Himani Yadav, said, “ONYA didn’t begin as a business idea — it began with a personal moment. My engagement ring was a lab-grown diamond long before the category became mainstream, and that experience made me realize how many people felt priced out of meaningful jewellery. ONYA was created to change that by bringing emotion, accessibility, and intention back into fine jewellery. Being backed by Zeropearl VC at this stage — and by someone like Bipin, who brings a decade of deep consumer-brand investing experience, including in jewellery — adds immense value and clarity to our journey. The fact that ONYA fits naturally into Zeropearl VC’s Indiluxe thesis reinforces that we’re building in the right direction. This partnership gives us the confidence to take thoughtfully designed lab-grown diamonds to more homes across India.”

Quotation Source: IndianRetailer.com  

Core mission and strategic expansion

The brand name ONYA is an abbreviation of On You. The origin of the name is highly personal and relatable; it centres on the message of the brand, which is to make the beautifully crafted diamond jewellery more accessible. The brand was formed based on a personal experience that led to the realisation of the necessity of valuable, but not expensive, pieces of diamond. During the initial wave of new life, as its founders were beginning their new life stage, they were faced with a typical obstacle: their engagement ring of choice was out of pocket.

This is a pivotal moment that spawned the notion of making jewellery that ‘wears well’ and the very idea of introducing emotion, accessibility, and a sense of design into the category of fine jewellery, in effect redefining the story of consumers who felt historically marginalised or financially locked out of the high-value jewellery segment.

Within an incredibly brief period of less than one year of its formation, ONYA has shown strong and fast expansion in the competitive retail market. The brand has already established and operationalised four profitable high-street stores, all of which are within the technology and retail-based centre of Bengaluru. This physical growth is underpinned by stunning financial growth statistics as the company has managed to record a high monthly run rate of ₹2 crore in revenue.

Continuing to strengthen its operational power and management, ONYA has made a significant addition to its executive team: Gaurav Choudhary, the previous Director of Products at xto10x, is a Co-founder of the company. The brand will not only be able to launch more experience-based retail stores with the new capital, but it will also broaden its products considerably. The expansion will extend the relationship and engagement of the brand with the growing segment of conscious luxury buyers in India, which is a rapidly growing segment that is paying increased focus to ethical and sustainable buying options without compromising on high-quality products.

The Founder and Managing Partner of Zeropearl VC, Bipin Shah, said, “At Zeropearl VC, we back founders who deeply understand the problem they’re solving — and Himani’s clarity stood out from day one. The ONYA team is already showing early signs of cracking an offline & design-first approach in the premium lab-grown diamond space, which strongly aligns with our Indiluxe thesis. Young India’s shift in how they view jewellery is undeniable, and ONYA is building right at that inflection point. Their design focus and customer obsession give us strong confidence — and we see this as a gateway to expanding into more premium, next-gen consumer categories over time.”

Quotation Source: IndianRetailer.com  

Conclusion

The pre-seed financing round, which raised ₹5.5 crores of funding, is a significant financial and strategic milestone of ONYA, as it positions the brand to expand its physical retail footprints in India. The reason behind this capital raise, led by Zeropearl VC and with powerful back-up by angel investors, is the hybrid approach of the brand: a combination of an offline-first business model and a keen eye towards affordable, emotionally charged, and ethically sourced lab-grown diamonds. The success with which profitability and huge monthly sales are realised during the first year of its operation shows how effective the ONYA model is and how close it is to the changing needs of the young Indian consumer.