Aukera, an upscale brand selling lab-grown diamond jewelry directly to consumers, just got a huge vote of investor confidence. They scored $15 million in Series B funding. Peak XV Partners led the round, and Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital are still on board.
This round shot the brand’s value up 4.5 times to almost $71 million! A year ago, it was just $15 million. This is big news, especially since folks are really digging sustainable and premium brands in India’s jewelry scene. The money will probably go toward growing the brand, coming up with cool stuff, and pushing deeper into the market, both online and in stores. All this should really firm up Aukera’s spot in the Indian direct-to-consumer world.
Lisa Mukhedkar and Kumar Saurabh started Aukera in 2023. Aukera’s is one of the fresh Indian startups changing how people see fancy jewelry. They sell all sorts of great lab-grown diamond pieces like rings, necklaces, bracelets, and pendants designed for Indian women. In a single year, Aukera has built a broad plan of action to sell directly to consumers with 13 stores in cities like Bengaluru, Delhi NCR, and Hyderabad, plus a solid online game.
They raised the money by offering over 988,000 preference shares at about ₹1,250.3 each, bringing in ₹124 crore. Peak XV put in the most at ₹90.6 crore, while Fireside Ventures added ₹23.7 crore. Entrackr says Fireside now owns 19.1% of the company, and Peak XV owns 15%. The founders, Lisa and Kumar, still own 24.1% each, showing they’re in it for the long haul.
Even though Aukera is pretty new, they’ve already raised about $19 million. This also seals Aukera’s good name as one of the VC-backed brands that’s taking off fast because the founders are really committed, they offer something different, and they know how to run a data-smart retail business.
In their first full year (FY24), Aukera made ₹5.2 crore in sales but lost ₹2.85 crore. It’s still early, but these numbers show they’re investing heavily to grow, just like a lot of fast-growing premium brands do. With investors believing in them and people wanting ethical, fancy jewelry, Aukera is set to become a top player.
Lab-grown diamonds are getting more attention in India, and brands like GIVA, COLUXE, and Jewelbox are also getting funding and growing quickly. But Aukera is focused on its brand, selling in multiple channels, and understanding what Indian consumers want, which gives them an advantage.
Thanks to this Series B round, Aukera can keep improving how they sell, launch products quickly, and make their supply chain even better. This sets them up for a potential IPO down the road and could make them one of the most well-funded brands to watch.
