Jewelbox, a direct-to-consumer (D2C) brand specializing in lab-grown diamond jewellery, is accelerating its growth trajectory with a $3.2 million (around ₹27 crore) pre-Series A funding round led by V3 Ventures.
The funding also drew investment from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and returning investor Jito Incubation and Innovation Foundation (JIIF).
Co-founder Vidita Kochar Jain revealed that the fresh capital will be strategically deployed to significantly expand Jewelbox’s physical presence through a mix of co-owned and franchise stores. The company plans to establish a network of 30 stores by year-end, a substantial increase from its current eight, with a focus on penetrating Tier-I and II cities like Ludhiana, Chandigarh, and Bhubaneshwar, alongside strengthening its presence in major urban centers like Delhi and Bengaluru.
Despite 40% of orders originating online, Jewelbox notes higher order values from its physical stores, with online traffic data informing its targeted retail expansion strategy. The brand, founded in 2022, has demonstrated strong financial performance, with its FY24 revenue nearly tripling to ₹14.3 crore and net profit jumping to ₹1.6 crore.