Limelight Diamonds Raises INR 275 Crore
The lab-grown diamond jewellery company said the capital will help strengthen its Indian manufacturing, accelerate retail expansion, and build a global brand from India.
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Limelight Diamonds, a lab grown diamond jewellery brand, has raised INR 275 crore in a funding round led by the company promoters, the Bhathwari Group.
Partners from the jewellery industry and several of the company’s franchise partners also joined the round, which is a combination of equity and cash, according to the company.
BSC Advisors served as the financial advisor to Limelight Lab Grown Diamonds for the said fundraise.
Founded in 2019, Limelight Diamonds works with over 15 retail partners and 30 associate partners across Kolkata, Hyderabad, Bangalore, Delhi and Chennai.
According to Wazir Advisors, India’s lab-grown diamonds market, estimated to be at about INR 3,452 crore (US$ 400 million) in FY25, is poised to grow to INR 5,179 crore by FY28. India’s overall diamond market was valued at nearly INR 53,512 crore in FY25.
The Indian government has also announced a few measures to boost the lab-grown diamonds sector in India. Some of the notable initiatives include 100 % Foreign Direct Investments (FDI) in the gems and jewellery sector, which entails laboratory-grown diamonds. The government has also slashed customs duty on the import of carbon seeds, said to be the foundation of lab-grown diamonds.
Apart from Limelight Diamonds, some of the other key names in the lab-grown diamonds space include Pome, a jewelry brand launched by Trent, the retail arm of the Tata Group. Other names are Solitario, Lucira, Jewelbox, and more.
“This funding round is a strong validation of Limelight’s vision and the growing potential of the lab grown diamond industry in India. At a time when Hon’ble Prime Minister’s ‘Make in India’ vision is driving focus towards domestic manufacturing and global competitiveness, we believe lab grown diamonds present a significant opportunity for India to lead a new-age luxury category globally. This investment will help us strengthen Indian manufacturing, accelerate retail expansion, and build a world-class brand from India for the world,” Pooja Madhavan, Founder & MD said in a statement.
Limelight Diamonds, a lab grown diamond jewellery brand, has raised INR 275 crore in a funding round led by the company promoters, the Bhathwari Group.
Partners from the jewellery industry and several of the company’s franchise partners also joined the round, which is a combination of equity and cash, according to the company.
BSC Advisors served as the financial advisor to Limelight Lab Grown Diamonds for the said fundraise.
Entrepreneur Staff • Editor
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