Editor’s Note
Bollywood star Shraddha Kapoor’s jewellery brand, Palmonas, has secured significant funding of 55 crore rupees from Vertex Ventures. The company is now planning a major expansion, aiming to open over 25 stores across India.
Shraddha Kapoor is a co-founder of Palmonas. The company has secured 55 crore rupees in funding from Vertex Ventures and is planning to open more than 25 stores across India.
The jewelry company Palmonas recently secured 55 crore rupees in funding. The brand ambassador and co-founder of this company is Shraddha Kapoor. The company plans to use this money to expand its stores and products. With this new funding, Palmonas will expand its existing three stores to open more than 25 stores across India.
In addition, the company is planning to introduce new products like lab-grown diamonds.
Furthermore, it will also strengthen its international shipping network so that its products can reach overseas markets as well.
Shraddha promotes her brand on Instagram with great enthusiasm. She shares videos connecting with common people, which strengthens her bond with her fans. But do you know how Shraddha Kapoor got associated with this jewelry brand? The founder of this brand himself revealed on Shark Tank how his jewelry company got a boost from Shraddha Kapoor.
Palmonas was founded by Pallavi Mohadikar. This company makes demi-fine jewelry, which is neither very expensive gold jewelry nor cheap fast-fashion jewelry. It is jewelry designed for everyday wear by young people like Gen-Z and Millennials. It is stylish and also safe for the skin. The company says this jewelry meets the needs of today’s youth, who want to look beautiful while also being wearable every day.
The story of how Shraddha Kapoor and Palmonas’s founder met is very interesting. Palmonas was founded by Pallavi Mohadikar and Amol Patwari in 2022. This company makes demi-fine jewelry, which is neither very expensive gold jewelry nor cheap fast-fashion jewelry. It is jewelry designed for everyday wear by young people like Gen-Z and Millennials. It is stylish, skin-safe, and affordable. However, Shraddha Kapoor’s association with this brand began by coincidence.
On Shark Tank India Season 4, the company’s founders explained how they met Shraddha Kapoor.
Pallavi Mohadikar shared on the show that one day, she saw Shraddha wearing Palmonas jewelry in a reel, and while replying to a fan’s comment, she also mentioned it in her Instagram story. At first, she couldn’t believe it, then she checked her orders to verify. She found several orders from the same location, with the customer’s name as ‘S Kapoor’. This gave her hope that it might be the famous actress Shraddha Kapoor. Pallavi seized the opportunity and created a reel with the caption ‘Shraddha Wears Palmonas’. She hoped the reel would reach Shraddha, and indeed it did.
Shraddha saw this reel and praised Palmonas’s jewelry. Pallavi mentioned that at that time she was 8 months pregnant, yet she traveled to Mumbai and met Shraddha. The meeting was very natural and positive.
Shraddha liked the design and quality so much that she didn’t remain just a customer but became the company’s co-founder. She now holds a 21 percent stake in the brand. Shraddha said she was very impressed with Palmonas’s vision. She believes luxury jewelry should be affordable and environmentally safe.
Palmonas’s jewelry is made from 18-carat gold vermeil and surgical-grade stainless steel, making it skin-safe. This partnership has taken Palmonas to new heights. On Shark Tank, Palmonas secured 1.26 crore rupees in funding, and recently received 55 crore rupees in funding from Vertex Ventures. With this funding, the company will open more than 25 stores and introduce new products like lab-grown diamonds. This brand’s story shows how a small business can transform.