Lab-Grown Diamond Jewelry Startup Jewelbox seals Rs.3.5 Crore Fund from JIIF

Diamond Jewelry Company based in Kolkata, Jewelbox has productively completed a funding round by securing Rs. 3.5 crores. The Funding round was directed by JIIF- JITO Incubation and Innovation Foundation along with the presence of close family members & friends. As the only community-based Angel network in India, JIIF invested a significant amount of Rs. 2.97 Crores.

The demand for lab-grown diamonds is steadily increasing, with Teji Mandi’s findings suggesting that it is expected to reach 160 million carats by 2030, signifying the growing acceptance of lab-grown diamonds in India.

Established in 2022 by Nipun Kochar & Vidita Kochar, the Jewelry startup Jewelbox has rapidly came out as an expert in crafting beautiful & delicate jewelry using lab-grown diamonds. The injection of raised funds will bolster the expansion strategies of the startup, focus on building teams & the craft the foundation for additional stores in India.

Expressing his confidence on this investment, Rajat Mehta, Chairman, JITO Incubation & Innovation Foundation says, “Jewelbox’s innovative approach in exquisite crafting jewelry with lab-grown diamonds resonates with today’s conscious consumer trends. We believe that their dedication to quality and sustainability will drive remarkable growth in the industry, enhancing both quality and sustainability”.

Similarly, Nipun Kochar, Co-founder, Jewelbox conveys his excitement towards acquiring the funds & the valuable mentorship the startup received from the industry experts by stating, “We are excited to receive mentorship with industry veterans who have joined in this round. Building Jewelbox has been an incredible adventure, driven by our shared passion for redefining luxury with lab-grown diamonds. Our dedication to quality and sustainability fuels every facet of our business, and through this investment we’re eager to see our impact ripple through the industry.”