Lab-Grown Diamond Jewellery Brand Aukera Raises ₹90 Crore in Fresh Funding Led by Alteria Capital

Lab-grown diamond jewellery brand Aukera has raised ₹90 crore in a fresh funding round led by existing investor Alteria Capital. The capital will support the company's aggressive retail expansion, omnichannel growth, product innovation and talent acquisition as it looks to strengthen its position in India's fast-growing lab-grown diamond jewellery market.

Aukera Secures Fresh Capital to Fuel Growth

Lab-grown diamond jewellery startup Aukera has raised ₹90 crore (over $10 million) in a fresh funding round led by Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton, and a banking partner. The latest investment comes less than a year after the company secured $15 million in an equity funding round led by Peak XV Partners, highlighting continued investor confidence in the premium jewellery brand's growth strategy.

The latest capital infusion will primarily be deployed to accelerate the company's physical retail expansion, strengthen its omnichannel capabilities, invest in new product development and build a stronger leadership and talent base as demand for lab-grown diamond jewellery continues to rise across India.

Retail Expansion Remains a Key Growth Driver

Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera operates a company-owned retail model focused exclusively on lab-grown diamond jewellery. Since its launch, the company has rapidly expanded its offline presence, growing its retail network from 13 stores to 35 stores within a year.

The expansion has enabled Aukera to establish a presence in several emerging markets, including Pune, Lucknow, Dehradun, and Visakhapatnam, while further strengthening its footprint in major metropolitan markets such as Bengaluru, Hyderabad, and Delhi NCR.

The company believes that increasing consumer acceptance of lab-grown diamonds, combined with expanding retail accessibility, is creating significant opportunities for long-term growth in the premium jewellery segment.

Funding to Strengthen Omnichannel Business

Apart from expanding its store network, Aukera plans to use the fresh funds to enhance its omnichannel customer experience by integrating its physical retail operations with digital platforms. The company also intends to invest in product innovation, enabling it to launch new jewellery collections tailored to evolving consumer preferences.

Additionally, a portion of the investment will be allocated toward strengthening its workforce by hiring talent across business functions as the company scales operations nationwide.

Strong Investor Backing Continues

The latest funding further strengthens Aukera's investor base, which already includes prominent venture capital firms such as Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

The participation of existing investors in successive funding rounds signals continued confidence in the company's business model, execution capabilities and the long-term growth potential of India's lab-grown diamond jewellery industry.

Growing Demand for Lab-Grown Diamond Jewellery

India's lab-grown diamond jewellery market has witnessed rapid growth in recent years as consumers increasingly seek sustainable, ethically sourced and comparatively affordable alternatives to mined diamonds. Rising awareness, improving product quality and expanding organised retail channels have accelerated adoption, particularly among younger consumers.

Companies like Aukera are positioning themselves to capitalise on this shift by combining premium retail experiences with digitally enabled customer engagement, allowing them to compete in a rapidly evolving jewellery market.

Funding Snapshot

What Lies Ahead

With fresh capital in hand and a rapidly expanding retail footprint, Aukera is expected to continue strengthening its presence across India's organised jewellery market. As consumer adoption of lab-grown diamonds continues to accelerate, the company is likely to focus on expanding into additional cities while enhancing its product offerings and customer experience to capture a larger share of this emerging segment.

How much funding has Aukera raised?

Aukera has raised ₹90 crore (over $10 million) in its latest funding round.

Who led Aukera's latest funding round?

The funding round was led by Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton, and a bank.

How will Aukera use the fresh capital?

The company plans to use the funds for retail expansion, omnichannel growth, product development, and talent acquisition.

How many stores does Aukera currently operate?

Aukera has expanded its retail network from 13 stores to 35 stores over the past year.