Editor’s Note
**Editor’s Note:** Aukera, a premium lab-grown diamond jewelry company in India, has raised INR 90 crore (approx. USD 10 million) in a new funding round led by existing investor Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton, and a major bank. This follows a USD 15 million equity round led by Peak XV Partners less than 12 months ago.
India’s premium lab-grown diamond jewelry company Aukera has announced a new funding round of INR 90 crore (over approximately USD 10 million). The investment was led by existing investor Alteria Capital.
Additionally, InnoVen Capital, Lighthouse Canton, and a major bank also participated in this funding round.
This funding comes less than 12 months after the company secured a USD 15 million equity investment led by Peak XV Partners. In that round, Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital were also investors. These two consecutive large investment rounds reflect the company’s rapid growth trajectory and increasing investor confidence. This also occurs as Titan has entered the market with its lab-grown diamond brand Beyon, while Aukera already plays a leading role in this sector.
The company’s lead is also evident in its expansion. Over the past year, Aukera has increased its company-owned stores from 13 to 35. It has now established a presence in cities like Pune, Lucknow, Dehradun, and Visakhapatnam (Vizag), in addition to Bengaluru, Hyderabad, and Delhi-NCR. This is considered one of the fastest retail expansions in the Indian fine jewelry market. The new funding will be used for the company’s next phase of expansion.
Aukera operates in India’s premium lab-grown diamond segment, with the primary goal of providing customers with higher quality diamonds. The company claims all its diamonds are of the highest quality, certified according to global standards. These diamonds are crafted with the company’s in-house designs and trademarked cuts. The brand ambassador is actress Taapsee Pannu. The company states that for its customers, lab-grown diamonds are a better, larger, and more attractive alternative to traditional diamonds.
The company also places special emphasis on maintaining customer trust. Aukera operates its own experience stores across the country and offers buyback and exchange facilities on every purchase. The company believes that such services establish it as a trustworthy jewelry brand in the long term.
Aukera’s Founder and CEO, Lisa Mukhedkar, said:
Aukera’s Co-founder, Kumar Saurabh, said:
With the new funding, Aukera plans to increase its store count in new and existing markets, invest in design and product innovation, add talent, and further strengthen its omnichannel retail network.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera is backed by Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital. The company aims to establish itself as a INR 1,000 crore brand in the future.
