Aukera, a young jewellery brand that specializes in lab-grown diamonds, has raised $15 million in its latest funding round. The investment was led by Peak XV Partners, one of India’s leading venture capital firms. Several existing investors, including Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital, also participated in the round.
This new investment is a major boost for the Bengaluru-based company, which was launched in 2023. The company plans to use the money to expand its retail stores, create more innovative jewellery designs, and strengthen its marketing efforts.
What Will Aukera Do With the New Funds?
With the fresh capital, Aukera is aiming for rapid growth. Here’s how they plan to spend the $15 million:
1. Expand Their Retail Network
Aukera already has 13 physical stores in major cities like Bengaluru, Delhi, and Hyderabad. The company now plans to open more stores in new cities like Mumbai, Pune, Chennai, and Chandigarh. Within the next few days, at least two new stores are expected to open.
2. Improve Product Variety
The company wants to offer more jewellery choices to its customers. This includes new designs, customized collections, and better options for different age groups and occasions. For this, they plan to hire skilled designers and build a stronger product development team.
3. Invest in Marketing
Aukera wants to build strong brand awareness across India. The company plans to run advertising campaigns, work with influencers, and invest in online platforms. They want more people to know that lab-grown diamonds are real, certified, and affordable.
4. Create an Omnichannel Experience
Aukera is not just focusing on physical stores. They are also improving their online presence. Customers will soon be able to browse collections, try on jewellery virtually, and place customized orders online—making the entire shopping experience more convenient and modern.
About Aukera and Its Founders
Aukera was founded in 2023 by Lisa Mukhedkar and Kumar Saurabh. Their idea was simple: to offer beautiful, real diamond jewellery at better prices using lab-grown diamonds. These diamonds are made in labs using advanced technology but look and feel exactly like mined diamonds.
From the beginning, Aukera focused on quality, trust, and transparency. All their diamonds are certified and set in 18K gold or platinum. Their strategy seems to be working. Within just a few months, many customers have returned to buy again or referred others. About 25–30% of their customers are repeat or referral buyers—a strong sign of customer satisfaction.
Aukera’s Business Growth and Ambitions
The company is growing quickly. By the end of this year, Aukera expects to hit an annual revenue run rate of ₹200 crore (around $24 million). Their long-term goal is even more ambitious: they want to reach ₹1,000 crore (around $120 million) in the next 5 to 7 years.
Aukera believes that this growth is possible because more people in India are now open to lab-grown diamonds. These diamonds are not only cheaper than mined diamonds but also more environmentally friendly and ethically sourced.
What Are Lab-Grown Diamonds?
Lab-grown diamonds are real diamonds that are made using science and technology. They are created in high-pressure, high-temperature machines that mimic the way natural diamonds are formed deep inside the earth.
The result is a diamond that looks exactly the same as a mined one. The main difference is how it’s made—and the price. Lab-grown diamonds are usually 30–40% cheaper, and they don’t come with the same environmental and ethical concerns as mined diamonds.
In India, this concept is still relatively new, but it’s gaining popularity fast, especially among young buyers who care about sustainability and affordability.
What Makes Aukera Stand Out?
There are many new brands entering the lab-grown diamond space. But Aukera believes it has some clear advantages:
- Certified quality: All diamonds are tested and certified by international gemological labs.
- Strong branding: Aukera focuses on clean designs, storytelling, and customer experience.
- Physical and digital mix: Unlike many online-only brands, Aukera offers both store and website experiences.
- Focus on repeat business: High referral and repeat purchase rates show strong customer trust.
Investors Show Strong Confidence
The lead investor, Peak XV Partners, believes that Aukera is in a good position to become one of India’s top diamond brands. They say the brand understands Indian consumers well and is creating a new way to experience fine jewellery.
Fireside Ventures, which has invested in many consumer brands before, also feels confident about Aukera. They say that the company is helping redefine luxury in India, making it more accessible, ethical, and modern.
India’s Lab-Grown Diamond Market Is Growing Fast
Lab-grown diamonds are becoming a big deal in India. The Indian lab-grown diamond market is currently valued at about $350 million, and it’s growing by about 15% every year. Globally, the market is expected to be worth more than $8 billion by 2032.
Big companies like BlueStone, GIVA, Limelight, Melorra, and even Tata Group have started exploring this space. But there’s still plenty of room for new players like Aukera to grow, especially if they continue offering great products at better prices.
The Road Ahead for Aukera
With this new funding round, Aukera has the money, the team, and the vision to grow into a national brand. In the next year, we can expect:
- More stores across India’s major cities
- Better and bolder jewellery designs
- Exciting marketing campaigns
- Online shopping features and customization tools
- More focus on sustainability and education around lab-grown diamonds
Final Thoughts
Aukera is part of a bigger shift happening in the jewellery world. Consumers today want products that are not just beautiful but also responsible and smartly priced. Lab-grown diamonds offer exactly that.
With strong investor backing, smart leadership, and growing customer love, Aukera is now on a fast path to becoming India’s leading lab-grown diamond brand.
This is more than just a jewellery company—it’s a symbol of how science, fashion, and sustainability can come together to create something truly brilliant.
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