changeadminLab-grown diamond jewelry start-up Aukera has secured $15 million funds in its latest round led by Peak XV Partners. Other investors who participated in the funding round, included, Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Bengaluru-based Aukera is a premium lab-grown diamond jewelry brand. With the latest fundraise, the start-up has raised $20 million to date.
The lab-diamond startup, sells rings, bracelets, nose pins, pendants, necklaces, earrings, etc., through its online channels and company-owned retail outlets. Currently, Aukera has presence in more than dozen stores across Bengaluru, Delhi-NCR, and Hyderabad.
The start-up will use the fresh capital to open additional stores in new cities, and enhance its product offerings. Aukera expects that it will scale into a Rs 1000 crore brand in the next 5 to 7 years.
Lab-grown diamonds are gaining huge traction from Indian consumers as they are chemically and optically similar to natural diamonds, but comes at a lower cost. They also offer an eco-friendly alternative to customers looking to make a sustainable choice without compromising on beauty or performance.
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