Team Startupcity

·  Aukera raises $15M in growth capital led by Peak XV Partners for retail and product expansion.

·  13 stores across India in under two years; aims for Rs 1,000 crore scale in 5–7 years.

·  Focus on premium lab-grown diamonds, addressing quality and value gaps in traditional jewellery market.

Bengaluru-headquartered luxury lab-grown diamond jewelry brand Aukera has secured $15 million growth capital in a funding round anchored by Peak XV Partners, with continued support from existing investors such as Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

Started in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera is transforming the fine jewellery space in India by providing premium, lab-grown diamond jewellery at affordable prices. The company has stores in Bengaluru, Noida, Gurugram, and Hyderabad, and seeks to benefit from increasing demand for ethical, sustainable, and high-quality jewellery options.

A study by us revealed that women were not satisfied with the quality and size of affordable mined diamonds. Aukera fills this void with beautifully crafted fine jewellery using the highest-rated lab-grown diamonds," stated CEO Lisa Mukhedkar. "Indian women are moving to lab-grown diamond jewellery, and Aukera is happy to be leading the trend.

Aukera is going to utilize the funding for speeding up retail growth, enhancing its design and merchandising capabilities, and providing an effortless omnichannel experience. With a vision to create a Rs 1,000 crore business in five to seven years' time, Aukera is also going to hire best-in-class talent in marketing and operations.

Within two years, the brand has grown to 13 stores in India, and co-founder Kumar Saurabh confirmed that the company wants to continue at this growth pace. "The encouragement from Peak XV Partners gives us further confidence as we continue to push boundaries in the industry and create a strong, reliable brand," he said.

Abhishek Mohan, Principal, Peak XV Partners, said, "Aukera is set to dominate India's fast-growing lab-grown diamond market. Lisa and Kumar are exceptional founders with a great vision and strong execution, and we are excited to back them as they scale their brand."