Aukera Jewellery Enters Negotiation to Raise $15 Million of Series B Funds from Peak XV Partners
Aukera Jewellery, a startup that focuses on LGD jewellery, is in talks to raise a $15 million Series B led by Peak XV Partners, sources talking to Moneycontrol said. The new capital will help the company increase its scale as competition in India's $2.6 billion LGD industry intensifies. Existing investor Fireside Ventures will also be joining the round.
Diamonds grown in a laboratory, manufactured in controlled settings with sophisticated technology that replicates the natural diamond creation process, are gaining popularity as the cost of natural diamonds increases. These man-made diamonds are becoming more popular, particularly among budget-sensitive consumers.
Aukera, established in 2023 by Lisa Mukhedar and Kumar Saurabh, competes with other LGD jewellery brands such as Limelight Lab Grown Diamonds, Fiona Diamonds, and Jewelbox. The bigger jewellery groups , such as Aditya Birla-backed GIVA, also ventured into launching lines of lab-grown diamond jewellery.
Diamonds grown in a laboratory, manufactured in controlled settings with sophisticated technology that replicates the natural diamond creation process, are gaining popularity as the cost of natural diamonds increases. These man-made diamonds are becoming more popular, particularly among budget-sensitive consumers.
Aukera, established in 2023 by Lisa Mukhedar and Kumar Saurabh, competes with other LGD jewellery brands such as Limelight Lab Grown Diamonds, Fiona Diamonds, and Jewelbox. The bigger jewellery groups , such as Aditya Birla-backed GIVA, also ventured into launching lines of lab-grown diamond jewellery.
