The brand plans to expand into additional cities and has set a target of reaching Rs 1,000 crore in revenue in the next 5-7 years
Bengaluru: Lab-grown diamond jewellery start-upAukera has raised $15 million (about Rs 128 crore)in its Series B funding round led by Peak XV Partners. Existing investors Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital also participated in the round.
This follows Aukera’s Series A fundraiser of Rs 26.7 crore (approximately $3.2 million) in August 2023, which was led by Fireside Ventures. The latest funding will be used to grow the brand’s retail footprint, improve product offerings, and strengthen its presence in India’s fine jewellery market.
The brand plans to expand into additional cities and has set a target of reaching Rs 1,000 crore in revenue within the next five to seven years.
Aukera offers lab-grown diamonds set in fine jewellery and primarily targets women who are looking for larger diamond pieces at lower price points compared to mined stones.
Based in Bengaluru, Aukera competes with other lab-grown diamond brands such as Fiona Diamonds, Limelight Lab Grown Diamonds, True Diamond, COLUXE, and Jewelbox.
The lab-grown diamond segment continues to draw investor interest as brands in this space expand their physical and digital presence across key Indian markets. Aukera’s funding round marks another step in this ongoing growth trend.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera retails through its 13 stores and online e-commerce portal. It has a current valuation of Rs 505 crore, according to estimates.
Retail Jeweller India News
