Editor’s Note
Bengaluru-based lab-grown diamond jewelry brand Ethera has secured ₹25 crore in a follow-on investment from BlueStone. This funding will support the company’s strategy to expand its physical retail presence, underscoring investor confidence in its omnichannel growth plans.
Ethera, a Bengaluru-based brand specializing in lab-grown diamond jewelry, has secured ₹25 crore in funding from BlueStone. This marks BlueStone’s second investment in the company, signaling strong confidence in Ethera’s growth trajectory and its strategy to expand its physical retail footprint.
Founded in 2024 by Nitesh Jain and Sharad Arora, Ethera focuses on luxury designs, sustainability, and catering to modern consumer preferences. As demand for responsible shopping grows in India, lab-grown diamond jewelry is gaining significant popularity in the direct-to-consumer (D2C) market. Ethera differentiates itself in the premium fashion and lifestyle D2C segment through its contemporary designs, transparent sourcing, and quality craftsmanship.
The fresh capital will primarily be deployed to open new Ethera stores in major metropolitan cities. Currently operating five stores in Bengaluru and New Delhi alongside a nationwide online presence, the brand is embracing the omnichannel trend prevalent in the D2C market, where digital-native brands are adding physical stores to build customer trust and enhance retention.
This funding round highlights the value for D2C companies in securing more than just capital. Partnerships with established players like BlueStone can provide crucial industry expertise, supply chain support, and consumer insights, which are vital for scaling effectively while maintaining quality and brand integrity.
The investment is well-timed, coinciding with the rapid growth of India’s lab-grown diamond jewelry market, which is projected to grow at 35–40% annually. Driven by increasing consumer focus on sustainability, affordability, and ethical sourcing, lab-grown diamond brands are resonating strongly with younger, tech-savvy shoppers. Ethera’s positioning allows it to appeal to both luxury seekers and value-conscious consumers.
Ethera’s successful funding is part of a broader trend where fashion, lifestyle, and jewelry brands are building substantial value in the D2C ecosystem. While discussions around D2C IPOs or acquisitions continue, brands like Ethera are prioritizing the establishment of a robust retail foundation and brand recognition.
As India’s D2C market continues to evolve, Ethera exemplifies a new generation of brands leading the charge. With strategic backing, a solid omnichannel strategy, and a booming market, Ethera is well-positioned to shape the future of lab-grown diamond jewelry in India.
