Solitario Diamonds, a lab-grown diamond luxury brand, has raised an undisclosed amount in a fresh funding round at a valuation of ₹300 crore.
The round brings on board Gautam Budhrani, trustee of the Budhrani Knowledge Trust and part of the Budhrani Group of Hospitals, as a strategic investor.
The funds raised will be used to expand in the Delhi NCR region and fuel investments in retail, inventory, and brand experience across high-potential urban hubs.
Ricky Vasandani, CEO & Founder at Solitario Diamonds, said, “This funding is a strategic step forward in our journey to make Solitario the most trusted name in lab-grown diamond luxury. With Gautam Budhrani joining us, we gain not just capital, but a like-minded visionary who believes in our long-term mission to take Indian innovation global.”
Gautam Budhrani said, “Solitario represents the future of fine jewelry—ethical, elegant, and forward-thinking. Their execution has been exceptional, and I see them becoming a global name in the years to come.”
Founded in 2022 by Ricky Vasandani and actor-entrepreneur Vivek Oberoi, Solitario is a lab-grown diamond luxury brand. From its first store in Pune, the brand has expanded its footprint to over 10 flagship stores in India and abroad, including Mumbai, Bangalore, Chennai, Lucknow, and Dubai.
The brand aims to cross ₹200 crore in annual turnover by FY 2026.
