Jewelbox, a lab-grown diamond jewelry brand, has raised $3.2 million in a pre-series A funding round led by V3 Ventures. The round also saw participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JIIF.
The fresh funds raised will be used to increase its retail footprint through a combination of franchise and company-owned stores, enhancing brand visibility, and hiring new talent. The company plans to grow its current network of eight stores to 30 across key tier 1 and tier 2 cities in the coming years.
Vidita Kochar Jain, Co-founder of Jewelbox, said, “This milestone investment reaffirms our vision. The lab-grown diamond industry is witnessing an inflection point, shifting from niche to mainstream as consumers embrace sustainable luxury. With this latest funding milestone, we are poised to accelerate our expansion, strengthen our market presence, and continue shaping India’s leadership in the global lab-grown diamond space.”
Arjun Vaidya, Co-Founder and Managing Partner at V3 Ventures, said, “At V3 Ventures, we’re excited about the potential of lab-grown diamonds to truly democratize access to luxury in India. Less than 6 per cent of Indians own diamonds today. What impressed us most about Jewelbox is the team’s ability to execute flawlessly across online and offline channels, even outside their home markets. They’re building a brand with purpose, scale, and serious momentum — and we’re proud to back them.”
Founded in May 2022 by Vidita Kochar Jain and Nipun Kochar, Jewelbox makes lab-grown diamond jewellery. Jewelbox offers exquisite designs for both everyday and occasion wear.
In 12 months, Jewelbox claims to have quadrupled its monthly revenue rate while transforming from a modest presence of three retail establishments into a network of eight strategically positioned luxury boutiques. The brand is now present in six major cities – Delhi, Gurgaon, Bangalore, Chennai, Kolkata, and Guwahati. The brand also has presence on e-commerce platforms.
