Newsletter
Aukera, a lab-grown diamond jewellery startup, is looking to raise $15 million in a Series B round, led by Peak XV Partners.
The deets: Aukera is a homegrown brand that designs fine jewellery using Lab grown diamonds (LGD) set in 18KT gold and platinum.
The hype: LGDs are created in labs using advanced tech that replicates natural diamonds.
Bigger players like Aditya Birla-backed GIVA have also launched their own lab-grown diamond collections. Tata’s Trent recently launched its own LGD brand Pome. Senco Gold is also in talks to acquire D2C jewellery startup Melorra.
Big picture: India’s LGD market is worth $2.6 billion, but still forms a small slice of the overall jewellery pie. Despite strong interest, there’s still no clear leader in the space.
