NewsVoir
Bangalore (Karnataka) [India], July 11: Aukera, India's leading premium lab-grown diamond jewellery brand, today announced that it has raised Rs. 90 crore (over USD 10 million) in fresh funding, led by existing investor Alteria Capital, along with InnoVen Capital, Lighthouse Canton and a leading bank. The raise comes less than twelve months after the company closed a USD 15 million equity round led by Peak XV Partners, with participation from Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital -- a pace of back-to-back institutional capital that reflects the strength of Aukera's growth trajectory and the confidence of lenders and investors alike in the underlying business. The company continues to strengthen its balance sheet as the category draws in India's largest players, including Titan with its lab-grown diamond brand Beyon -- a market Aukera has been leading from the front.
That leadership is visible on the ground: in the year since its last raise, Aukera has grown from 13 to 35 company-owned stores, expanding beyond Bengaluru, Hyderabad and Delhi NCR into cities including Pune, Lucknow, Dehradun and Vizag -- one of the fastest retail scale-ups in Indian fine jewellery, and a genuinely national footprint. The new capital will fuel the next phase of this expansion.
Aukera occupies the premium end of India's lab-grown diamond market, built around a simple idea: the better diamond. Every Aukera diamond is of the highest grades, certified to the most exacting global standards, and crafted into fine jewellery featuring original, in-house designs and the brand's trademarked cuts. It is a promise brought to life by a design and craft organisation that draws on global talent, and carried publicly by acclaimed actor Taapsee Pannu, the Face of the Brand. For Aukera's customers, grown diamonds are a deliberate upgrade -- to a finer, larger, better-designed diamond.
That confidence extends to how the brand stands behind every piece. Aukera operates company-owned experience stores across the country and backs every purchase with assured buyback and exchange -- the kind of guarantee that has traditionally separated enduring jewellery houses from the rest.
"This category will not be won on discounting -- it will be won on trust, quality and brand," said Lisa Mukhedkar, Founder & CEO, Aukera. "This capital lets us take that promise to many more cities, faster."
"We believe this category will require the top player to invest at least Rs. 1,000 crore, as the mining industry resets to recognise the permanence of grown diamonds," said Kumar Saurabh, Co-founder, Aukera. "We are building the balance sheet and the business to be that player."
With the fresh capital, Aukera will accelerate store openings in new and existing markets, continue investing in design, product innovation and talent, and strengthen the omnichannel infrastructure that supports its retail engine.
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, and is on track towards its stated ambition of becoming a Rs. 1,000 crore brand.
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