Dholakia Lab Grown Diamond Raises INR 800 Cr Funding
The funding round was led by Abakkus Four2Eight Opportunities Fund, with participation from ICICI Ventures IAF5, Amal Parikh, and other investors.
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Dholakia Lab Grown Diamond Private Limited (DLGD) has raised over INR 800 crore in a funding round led by Abakkus Four2Eight Opportunities Fund, with participation from ICICI Ventures India Advantage Fund Series 5, Amal Parikh, and other investors. UBS acted as the exclusive advisor for the transaction.
The Surat-based company plans to use the funds to expand its production capacity, strengthen working capital, and roll out a pan-India physical retail network. It also aims to advance work in precision single-crystal diamonds for applications in sectors such as semiconductors, defence, and deep technology.
Founded by Hasu Dholakia and backed by the Hari Krishna Group, DLGD operates as a fully vertically integrated lab-grown diamond company. Its operations include diamond growing, cutting, polishing, jewellery manufacturing, and global distribution. The company has facilities in Surat and Mumbai, with commercial operations in New Jersey, United States.
DLGD serves more than 100 retailers and brands across over 25 countries. It focuses on sustainable production, using renewable energy and recycled metals in its processes. The company also uses technologies such as robotic manufacturing, artificial intelligence-based design, and inventory-light systems to support customised jewellery production.
The Hari Krishna Group, which has over three decades of experience in the diamond industry, was among the early adopters of lab-grown diamonds and introduced the category to major US retailers around 2018.
The funding comes amid rising competition in the lab-grown diamond segment, with players like Limelight Diamonds, Fiona Diamonds, Jewelbox, GIVA, and Solitario expanding.
Dholakia Lab Grown Diamond Private Limited (DLGD) has raised over INR 800 crore in a funding round led by Abakkus Four2Eight Opportunities Fund, with participation from ICICI Ventures India Advantage Fund Series 5, Amal Parikh, and other investors. UBS acted as the exclusive advisor for the transaction.
The Surat-based company plans to use the funds to expand its production capacity, strengthen working capital, and roll out a pan-India physical retail network. It also aims to advance work in precision single-crystal diamonds for applications in sectors such as semiconductors, defence, and deep technology.
Founded by Hasu Dholakia and backed by the Hari Krishna Group, DLGD operates as a fully vertically integrated lab-grown diamond company. Its operations include diamond growing, cutting, polishing, jewellery manufacturing, and global distribution. The company has facilities in Surat and Mumbai, with commercial operations in New Jersey, United States.
DLGD serves more than 100 retailers and brands across over 25 countries. It focuses on sustainable production, using renewable energy and recycled metals in its processes. The company also uses technologies such as robotic manufacturing, artificial intelligence-based design, and inventory-light systems to support customised jewellery production.
The Hari Krishna Group, which has over three decades of experience in the diamond industry, was among the early adopters of lab-grown diamonds and introduced the category to major US retailers around 2018.
The funding comes amid rising competition in the lab-grown diamond segment, with players like Limelight Diamonds, Fiona Diamonds, Jewelbox, GIVA, and Solitario expanding.
