Jewelbox raises $3.2 million in funding round led by V3 Ventures

Jewelbox, an omnichannel lab-grown diamond jewellery brand has raised $3.2 million (Rs 27 crore) in its pre-series A funding round led by V3 Ventures.

The funding round also saw participation by Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JIIF.

Jewelbox will utilise the funds to expand its domestic retail presence, brand building initiatives, and hiring.

Commenting on the investment, Arjun Vaidya, co-founder at V3 Ventures in a statement said, “At V3 Ventures, we’re excited about the potential of lab-grown diamonds to truly democratize access to luxury in India. What impressed us most about Jewelbox is the team’s ability to execute flawlessly across online and offline channels, even outside their home markets.”

Vidita Kochar Jain, co-founder of Jewelbox added, “At Jewelbox, we’ve always believed in pioneering this transformation, and our journey over the past three years has been a testament to the growing demand for conscious alternatives. With this latest funding milestone, we are poised to accelerate our expansion, strengthen our market presence, and continue shaping India’s leadership in the global lab-grown diamond space.”

Founded in 2022 by siblings Vidita Kochar and Nipun Kochar, Jewelbox currently has stores in 8 cities and plans to reach a store count of 30 by the end of the year.