Funding · Commerce & Consumer Brands

Aukera raises ₹90 crore debt from Alteria Capital

By Startup Enthusiast · 10 July 2026

What they do

Aukera sells premium lab-grown diamond jewellery through its website and company-owned stores

It raised ₹90 crore (over $10 million) in debt funding led by Alteria Capital, with InnoVen Capital, Lighthouse Canton and a leading bank

The company has grown from 13 to 35 stores in a year and aims to become a ₹1,000 crore brand

Aukera has raised ₹90 crore (over $10 million) in debt funding.
The round was led by Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton and a leading bank.
This comes less than 12 months after a $15 million equity round led by Peak XV Partners.
The company's total funding now stands at approximately $28.2 million.
Aukera will use the funds to accelerate store openings, invest in design, product innovation, talent and strengthen its omnichannel infrastructure.
The brand has actor Taapsee Pannu as its face of the brand.

The Indian lab-grown diamond market was estimated at $2.8 billion in 2025 and is projected to reach $11.6 billion by 2035 (Vantage Market Research).
Another projection puts the market at ~$2 billion by 2036, growing at 14.8% CAGR.
Co-founder Kumar Saurabh said a top player needs to invest at least ₹1,000 crore as the mining industry resets for the permanence of grown diamonds.
Founder Lisa Mukhedkar said: 'This category will not be won on discounting—it will be won on trust, quality and brand.'

Aukera sells premium lab-grown diamond jewellery through an omnichannel model: its website and company-owned stores.
It has grown from 13 to 35 stores in the year since its previous raise.
Stores are present in Bengaluru, Hyderabad, Delhi NCR, Pune, Lucknow, Dehradun and Visakhapatnam.
The jewellery uses highest-grade diamonds, certified to global standards, with original in-house designs and trademarked cuts.
Every piece comes with an assured buyback and exchange promise.
The company aims to become a ₹1,000 crore brand.

Alteria Capital (lead) — A venture debt firm that led this round and also participated in the previous equity round.
InnoVen Capital (participated) — A venture debt provider.
Lighthouse Canton (participated) — An investment firm.
a leading bank (participated) — An unnamed leading bank.
Peak XV Partners (existing) — Led the previous $15 million equity round.
Fireside Ventures (existing) — Participated in the previous equity round.
Sparrow Capital (existing) — Participated in the previous equity round.
Prath Ventures (existing) — Participated in the previous equity round.

Product: Lab-grown diamond jewellery and solitaire pieces
Customers: Individual consumers purchasing fine jewellery through retail and online channels
How it makes money: Omnichannel retail model combining company-owned stores and direct-to-consumer e-commerce
What sets it apart: Lab-grown diamonds offering lower cost and ethical alternative to mined diamonds