Gautam Budhrani, trustee of the Budhrani Knowledge Trust and part of the Budhrani Group of Hospitals, has come on board as an investor, and the capital raised will drive Solitario’s expansion in the Delhi NCR region, a key growth market for the brand
Mumbai: Lab-grown diamond jewellery brand Solitario Diamonds has successfully closed a fresh round of funding to arrive at a valuation of Rs 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, reinforcing the market’s growing belief in Solitario’s purpose-led, modern luxury vision.
The capital raised will drive Solitario’s expansion in the Delhi NCR region, a key growth market for the brand, and fuel investments in retail, inventory and brand experience across high-potential urban hubs.
“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,” said Ricky Vasandani, CEO & Co-Founder, Solitario Diamonds.
Gautam Budhrani added, “Solitario represents the future of fine jewellery—ethical, elegant, and forward-thinking. Their execution has been exceptional, and I see them becoming a global name in the years to come.”
The brand aims to crossRs 200 crore in annual turnover by FY 2026,leveraging a loyal customer base, robust offline presence and increasing interest in sustainable luxury.
Founded in 2022 by Ricky Vasandani and actor-entrepreneur Vivek Oberoi, Solitario has grown from its first store in Pune to over 10 flagship stores in India and abroad, including Mumbai, Bengaluru, Chennai, Lucknow and Dubai. The brand is present in six global markets, including Dubai, Malaysia and Spain.
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