Team Startupcity

·  Coluxe closes friends & family funding round backed by top investors

·  Brand to launch digital storefront in August with 300+ jewellery pieces

·  Focus on lab-grown diamonds and modular, stackable fine jewellery

Coluxe, a luxury jewellery startup that deals in lab-created diamonds and coloured stones, has successfully raised its friends and family funding round.

The round saw backing from an impressive list of entrepreneurs and investors such as HCL co-founder Ajai Chowdhry, Tej Kapoor (Director, ICICI Ventures), Sairee Chahal (Founding Partner, Appreciate Capital), Startup Sherpas, Apollo Singapore Investments' Kunal Chowdhry, Rachin Dewan of Rachin Dewan Ventures, and Synage's Kunal Milwani.

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The new funds will be applied to open Coluxe's online boutique in August and to grow its product line and operating infrastructure.

The business was launched a few months ago by entrepreneur Priyanka Gill, and Coluxe aims to disrupt the concept of everyday luxury with its stackable, modular jewellery made from certified lab-grown diamonds and ethically mined coloured gemstones.

Priyanka Gill, founder of Coluxe, highlighted the brand's unique positioning in the evolving jewellery market, saying: 

Coluxe is at the crossroads of a cultural change and a sizeable category opportunity. Lab-grown diamonds are bringing diamond ownership within reach in a marketplace where only 6% of gold jewelry purchasers own one diamond. At the same time, women are self-buying more than ever and looking for high-quality jewelry that reflects their individuality not tradition.

Coluxe's foray into India's $80 billion jewellery sector comes at a time of changing consumer behavior, particularly for urban consumers looking for sustainable, design-led solutions. The brand's approach to modular design allows customers to combine, layer, and mix pieces in a manner that expresses their individuality in everyday wear.

This month, Coluxe soft-launched a limited-edition Rakhi collection through WhatsApp commerce. The collection sold out within a week, affirming consumer interest and backend preparedness.

The brand's launch in August will feature more than 300 SKUs in rings, earrings, bracelets, pendants, and its stackable signature sets. Future collections will cover themes including zodiac signs, gifting, manifestation, and timeless solitaires.