Aukera, a lab-grown diamond jewellery company, has raised $15 million in fresh funding round led by Peak XV Partners. The round also saw participation from existing investors including Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital.
The funds raised will be used to accelerate its aggressive retail expansion plans by doubling down on physical retail and enhancing its product offerings by investing in top-tier design, merchandising and marketing talent, and offering a strong omnichannel experience.
The latest funding brings the total funds raised by the firm to almost $20 million.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera is a Bengaluru-based lab-grown diamond jewellery brand. Aukera operates 13 company-owned stores in cities such as Bengaluru, Hyderabad, and across the Delhi National Capital Region.
The company says it plans to scale to ₹1,000 crore in revenue over the next five to seven years. To achieve this Aukera plans to open additional stores in new cities and enhance brand visibility.
Lisa Mukhedkar, Founder & CEO, Aukera, said, “Aukera is built on a consumer insight, borne from research, that women were frustrated with the poor quality, tiny diamonds that were affordable given mined diamond prices. Aukera solves a consumer problem by offering the highest-graded diamonds, designed & crafted into fine jewellery. Indeed, women in India are upgrading to grown diamond jewellery and Aukera is proud to lead that disruption, providing exceptional value to our customers. The brand will scale into a ₹1000 crore brand in the next 5 to 7 years.”
Kumar Saurabh, Co-Founder, Aukera, said, “Its journey of two years, the brand has scaled to 13 stores pan India and intends to continue to scale rapidly. The investment from Peak XV Partners is meaningful for the business as we drive ambitious growth. Aukera is challenging the status quo. Our experience so far has only strengthened our conviction in our business model and ability to build a truly durable brand and business.”
Abhishek Mohan, Principal, Peak XV Partners, said, “Driven by structural tailwinds and a strong consumer shift, Aukera is well-positioned to lead India’s fast-growing lab-grown diamonds category. Lisa and Kumar are exceptional founders who bring complementary strengths and proven execution capabilities. We are excited to partner with them as they scale Aukera’s footprint and deepen the brand’s leadership in this emerging category.”
Kanwaljit Singh, Founder and Managing Partner at Fireside Ventures said, “Aukera is not just another lab-grown diamond jewellery brand — it’s the front runner redefining the future of fine jewellery, built on consumer insight. With this investment, Aukera is now poised to scale rapidly and set the benchmark for the category. Aukera stands apart as a statement of intent for the industry and a signal of trust for the modern consumer.”
