Aukera’s Lab-Grown Diamond Jewellery Secures Rs 90 Crore in Funding

Aukera, a pioneering lab-grown diamond jewellery brand, has successfully raised Rs 90 crore (over $10 million) in a funding round spearheaded by existing investor Alteria Capital. This round also witnessed contributions from InnoVen Capital, Lighthouse Canton, and a banking institution. This fundraising effort comes less than a year after Aukera secured $15 million in an equity round, which was also led by Peak XV Partners, with investments from Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

The capital raised will be strategically directed towards broadening its retail network, enhancing omnichannel capabilities, and investing in product innovation and human resources.

Expansion Initiatives of Aukera

Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera offers lab-grown diamond jewellery through its own retail outlets. Over the past year, Aukera has increased its retail presence, growing from 13 to 35 stores. The brand has penetrated new markets, including Pune, Lucknow, Dehradun, and Visakhapatnam, while maintaining its strong foothold in cities like Bengaluru, Hyderabad, and Delhi NCR.

Meeting Growing Demand for Lab-Grown Diamonds

According to the company’s statements, the expansion has enabled it to establish a robust presence across various cities, driven by the rising demand for lab-grown diamond jewellery in India. Aukera continues to be supported by influential investors, including Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.