The fresh capital will power Lucira’s next phase of growth. Plans include opening new flagship retail stores in FY2026, enhancing its digital-first customer journey, strengthening its technology backbone and stepping up marketing efforts
Mumbai: Lab-grown diamond start-up Lucira Jewelry has announced the completion of its $5.5 million fundraiser, and said it is the largest ever seed round raised by a jewellery start-up in the country. The round was led by Blume Ventures and Spring Marketing Capital, with participation from SiriusOne Capital Fund and a network of marquee angel investors including founders of Dot & Key, Livspace, Snitch and Bewakoof.com.
Founded by jewellery industry veterans Rupesh and Vandana Jain, Lucira focuses on design precision and sustainability in lab-grown diamond jewellery. The fundraise marks a high-conviction bet on Rupesh Jain’s ‘second innings’ after he built and charted a success story with Candere before it was acquired by Kalyan Jewellers in 2017.
Rupesh Jain, Co-Founder, Lucira said, “This fundraiser is a strong validation of the white space we see in India’s fine jewellery market. Indian consumers are moving beyond buying jewellery only for investment, they are seeking design, authenticity, and a brand they can emotionally connect with. With this backing, we aim to make Lucira the most trusted design-first fine jewellery brand from India.”
In a short span since launch, Lucira has created a portfolio of more than 1,000 customizable lab grown diamond designs, each backed with lifetime exchange and buyback guarantees.
Jain has already proven his ability to build and scale in the jewellery industry with Candere’s successful exit. Now, with Lucira’s omnichannel vision, he aims to blend cutting-edge digital experiences with physical retail, drawing on his deep understanding of Indian jewellery consumers.
The brand is launching its first retail store in Mumbai this month, signalling the beginning of its retail journey. With fresh capital, Lucira plans to open four more flagship stores by the end of FY2026, further strengthening its digital-first buying experience, and investing in technology-led personalization.
The fresh capital will power Lucira’s next phase of growth. Plans include opening new flagship retail stores in FY2026, enhancing its digital-first customer journey, strengthening its technology backbone and stepping up marketing efforts. The company is also investing in scaling its design studio and hiring top talent to build a culture of craftsmanship and innovation.
“Our vision is to cement Lucira as India’s most design-first fine jewellery brand, and that requires building strategically on three fronts – design leadership, omnichannel presence, and consumer trust. This fundraise is a vote of confidence from partners who understand we’re not just selling jewellery, we’re shifting mindsets.” added Jain. “We’re investing heavily in our design studio, scaling physical retail alongside digital, and ensuring every piece comes with trusted certification and guarantees. This structured approach is how we see Lucira becoming the go-to fine jewellery brand for a new generation of Indian consumers.”
Notably, several other jewellery start-ups have raised capital in recent months. Aukera, a lab-grown diamond brand, raised $15 million in growth capital from Peak XV Partners. Firefly Diamonds, another lab-grown diamond jewellery start-up, secured $3 million in seed funding; Kolkata-based Jewelbox raised $3.2 million in a pre-Series A round; and True Diamond raised Rs 26 crore in a pre-Series A round, among others.
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