ONYA: Lab-Grown Diamond Jewellery Startup Raises Rs 12.5 Crore
ONYA, a pioneering lab-grown diamond jewellery startup, has successfully acquired Rs 12.5 crore in a pre-Series A funding round led by Divisa Family Office. In this round, existing investor Zeropearl VC has increased their stake after an initial investment of Rs 5.5 crore during the seed round. The latest funding also attracted various notable angel investors, including the founders of MyGate and UrbanVault.
The newly raised capital will be strategically utilised to enhance retail presence, boost digital customer acquisition, improve online personalisation, and strengthen research and development for innovative product design and manufacturing, as stated by ONYA in a recent press release.
About ONYA
Founded in 2024 by Gaurav Choudhary and Himani Yadav, ONYA is a modern lab-grown diamond jewellery brand that merges artistry with science to produce timeless, elegant, and functional pieces. Based in Bengaluru, the brand provides IGI-certified lab-grown diamonds set in BIS Hallmarked gold, showcasing high craftsmanship and distinct personalised designs. ONYA is dedicated to redefining the value of fine jewellery by offering superior brilliance at around 20% of the cost of natural diamonds, all supported by a Lifetime Exchange and Buyback guarantee.
ONYA proudly presents its patented ring setting called the ONYA Setting, along with a flagship line known as the ONYA Signature Collection, which draws inspiration from Neoclassical architecture, thereby establishing a new benchmark in contemporary fine jewellery.
Retail Presence and Growth Plans
Since its launch, ONYA has established a retail footprint with eight flagship stores located in all major shopping districts of Bangalore, along with branches in Amanora Gold Souk Mall in Pune and Road No. 36 in Jubilee Hills, Hyderabad. The brand has reached a Monthly Recurring Revenue of Rs 3.5 crore.
ONYA plans to broaden its market reach by introducing both company-owned outlets and franchise opportunities. The startup competes with various brands such as Aukera, Limelight, Jewel Box, and Fiona, further enriching the lab-grown diamond market.
Investor Interest in Lab-Grown Diamonds
Investor interest in lab-grown diamond ventures has been surging. In 2025, nine pure-play lab-grown diamond startups raised a total of $26.4 million, a significant increase from $4.7 million in 2024. Recent fundraising efforts include Aukera, which secured Rs 90 crore in debt funding in July this year after previously raising $15 million in equity led by Peak XV Partners. Limelight Lab Grown Diamonds raised Rs 275 crore in a strategic investment round aimed at expanding manufacturing and retail capabilities. Additionally, GIVA, which is linked to the lab-grown diamond brand Heer, raised Rs 530 crore in a Series C funding round. Other players in this sector also include Jewelbox, Lucira Jewellery, True Diamond, and Fiona Diamonds.