Funding · Commerce & Consumer Brands

Jewelbox in talks to raise ₹50 crore

By Startup Enthusiast · 10 July 2026

What they do

Jewelbox sells lab-grown diamond jewellery online and through retail stores

It is in advanced talks to raise ₹50 crore (~$5.2 million) led by Physis Capital, with existing investor V3 Ventures participating

The Indian lab-grown diamond market is projected to grow at 14.8% CAGR to about $2 billion by 2036

Jewelbox is in advanced talks to raise ₹50 crore (~$5.2 million) in a new funding round.
The round is led by Physis Capital, with existing investor V3 Ventures participating.
The post-money valuation would be about ₹300 crore (~$31 million).
The company will use the funds to expand retail in existing cities like Delhi and Bengaluru.
It also plans to open new stores in Chandigarh and Bhubaneshwar.

The Indian lab-grown diamond market is projected to grow at 14.8% CAGR to about $2 billion by 2036.
Jewelbox competes with startups like Aukera (raised ₹90 crore debt) and Lucira ($5.5 million seed), as well as legacy brands like Titan's BEYON and Trent's Pome.

Jewelbox sells lab-grown diamond jewellery through its website and retail stores.
It has a retail presence in 9 cities: Mumbai, Guwahati, Kolkata, Ludhiana, Noida, Chennai, Delhi, Gurugram, and Bengaluru.
The company targets customers looking for affordable, ethical diamonds grown in labs rather than mined.

Jewelbox plans to expand retail in existing cities like Delhi and Bengaluru.
It will open new stores in Chandigarh and Bhubaneshwar.

Physis Capital (lead) — Physis Capital is a venture capital firm investing in early-stage startups.
V3 Ventures (participated) — V3 Ventures is an existing investor in Jewelbox, having led its previous $3.3 million pre-Series A round.

Product: Premium lab-grown diamond jewelry collections including rings, earrings, pendants, bracelets sold through website and physical stores
Customers: Consumers seeking affordable luxury jewelry with lab-grown diamonds through direct-to-consumer channels
How it makes money: Direct-to-consumer omnichannel model combining e-commerce and retail store presence
What sets it apart: High store conversion rates of 20-60%; operates physical stores for experiential retail alongside online presence