Team Startupcity

·  Goldiam raises Rs 202 Cr via QIP with participation from Morgan Stanley.

·  ORIGEM brand to expand with 70–90 stores in 18–24 months.

·  India’s lab-grown diamond retail market witnessing rapid institutionalisation.

Goldiam International, a leading diamond jewellery exporter, has raised  Rs 202 crore through a Qualified Institutional Placement (QIP) to strengthen its retail presence in the lab-grown diamond (LGD) segment. Monarch Networth Capital , managed the issue , saw strong participation from marquee global and domestic investors, including Morgan Stanley.

This fundraise is the largest institutional investment so far in India’s LGD retail sector and nearly doubles the size of recent venture-backed deals in the category.

The capital will be channelled into scaling ORIGEM, Goldiam’s consumer-facing lab-grown diamond jewellery brand, which plans to open 70–90 stores across India over the next 18–24 months. Launched just 10 months ago, ORIGEM has already set up six outlets and reported robust customer demand.

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Anmol Bhansali, Director, Goldiam International said, 

This fundraising is a milestone in Goldiam’s journey. With the backing of marquee investors, we are ready to fast-track ORIGEM’s growth and make lab-grown diamond jewellery more accessible, sustainable, and aspirational for Indian consumers.

The move highlights the rapid evolution of India’s lab-grown diamond industry, which is shifting from a niche export-led sector to a mainstream retail opportunity. Produced in controlled environments but chemically identical to mined diamonds, lab-grown diamond (LGDs) are gaining traction among younger consumers looking for affordable luxury and eco-conscious choices.

For Goldiam, this marks a strategic pivot from its traditional wholesale-export model to a hybrid approach, combining global B2B strengths with a fast-expanding domestic retail franchise. The company expects 15–20% growth in both revenue and profitability this fiscal, powered by what it calls its “dual growth engines.”