Lab-grown diamond jewellery brand Aukera has raised ₹90 crore (over $10 million) in a fresh funding round led by existing investor Alteria Capital, reinforcing investor confidence in the brand’s rapid growth and expansion strategy.
The round also saw participation from InnoVen Capital, Lighthouse Canton and a bank. The latest fundraise comes less than a year after Aukera secured $15 million in an equity round led by Peak XV Partners, with participation from Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital.
The company plans to deploy the fresh capital to expand its retail network, strengthen its omnichannel operations, invest in product development, and build its leadership and talent base as it scales across India.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera operates in the fast-growing lab-grown diamond jewellery segment through a network of company-owned retail stores. Since its launch, the brand has focused on building an omnichannel business that combines physical retail with a seamless customer experience.
Over the past year, Aukera has significantly expanded its retail footprint, growing from 13 stores to 35 stores across India. The company has entered several new markets, including Pune, Lucknow, Dehradun and Visakhapatnam, while strengthening its presence in existing markets such as Bengaluru, Hyderabad and Delhi NCR.
According to the company, this rapid expansion has helped establish a stronger national presence as consumer demand for lab-grown diamond jewellery continues to increase. The growing acceptance of sustainable and modern jewellery alternatives has created significant opportunities for brands operating in this category.
The latest investment is expected to support Aukera’s next phase of growth by accelerating store expansion, enhancing omnichannel capabilities, and strengthening its product portfolio. The company also plans to invest in talent to support its long-term growth ambitions as competition in the jewellery sector continues to intensify.
Aukera is backed by a strong group of investors, including Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital, reflecting continued confidence in the company’s business model and execution.
With fresh funding, a rapidly expanding retail footprint, and a clear omnichannel growth strategy, Aukera is positioning itself to strengthen its presence in India’s evolving lab-grown diamond jewellery market. As the category continues to gain consumer acceptance, the company is focused on scaling operations, expanding into new cities, and building a stronger nationwide brand.
