The brand said the investment aligns with the Government’s ‘Make in India’ initiative, which focuses on strengthening domestic manufacturing capability
Mumbai: Limelight Lab Grown Diamonds has raised Rs 275 crore through a promoter-led funding round to expand retail operations and scale its vertically integrated business model. The round was led by its core promoters, the Bhathwari Group, with participation from partners in the jewellery sector and several franchise partners. The company stated that the capital has been raised through a combination of equity and cash consideration.
The funds will be used to strengthen vertical integration, expand infrastructure and support design and product development. The company also plans to use the investment to accelerate retail expansion across India, in line with its growth strategy.
Limelight said the investment aligns with the Government’s ‘Make in India’ initiative, which focuses on strengthening domestic manufacturing. The company noted that the lab-grown diamond sector provides an opportunity to build manufacturing capabilities within India while contributing to the country’s position as a global manufacturing and export hub.
Commenting on the development, Pooja Sheth Madhavan, Founder & MD, Limelight, said, “This funding round is a strong validation of Limelight’s vision and the growing potential of the lab-grown diamond industry in India. At a time when the Prime Minister’s ‘Make in India’ vision is driving focus towards domestic manufacturing and global competitiveness, we believe lab-grown diamonds present a significant opportunity for India to lead a new-age luxury category globally. This investment will help us strengthen Indian manufacturing, accelerate retail expansion, and build a world-class brand from India for the world.”
Founded in 2019, Limelight Lab Grown Diamonds has become a leading jewellery brand in the category, with 75+ stores across 45+ cities. The brand offers jewellery featuring Type IIa CVD diamonds, grown using advanced Indian technology, with a fully integrated ‘rocks to retail’ model. The company plans to add 100 stores during 2026 and expand its network to 200 stores by 2027 through a mix of company-owned and franchise-operated outlets across metro, Tier I and emerging Tier II markets.
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