Team Startupcity

•  Limelight Lab Grown Diamonds appoints Shilpa Shetty as investor and brand ambassador.
•  Plans to expand retail footprint to 100 stores by 2026 across India.
•  Raised $11 million earlier to boost design, retail, and operational growth.
Limelight Lab Grown Diamonds has inducted actor and businessman Shilpa Shetty as a strategic investor as well as the company's brand ambassador. Mumbai-based Limelight has over 50 stores in over 45 cities in India and aims to double its retail presence to 100 shops by 2026.

Limelight is not only entering the lab-grown diamond market we are defining it. As trailblazers, it is our duty to reframe minds around lab-grown diamonds. With our aggressive plans to have 100 stores by 2026, we will not only increase our outreach but also our relevance as a brand," stated Pooja Sheth Madhavan, Founder and Managing Director of Limelight Lab Grown Diamonds.

Also Read- Aukera Raises $15Million to Disrupt India's Lab-Grown Diamond Jewellery Market

Earlier in February this year, Limelight raised close to $11 million (about Rs 90 crore) from fund houses, broking companies, family offices, and promoters to enhance design innovation, retail presence, and operational growth.

Shilpa Shetty's investment follows increased activity in the lab-grown diamond industry. Recently, Priyanka Gill's startup Coluxe raised money from angel investors such as Startup Sherpas, Ajai Chowdhry, Tej Kapoor, and Sairee Chahal, gearing up to open a digital store with more than 300 SKUs in August 2025 and targeting a seed round with venture capital players. In the meantime, omnichannel fashion brand Jewelbox raised $3.2 million in a pre-Series A round from V3 Ventures to grow from eight to 30 stores by the end of the year. Bengaluru-based Aukera also raised $15 million in a funding round from Peak XV Partners to expand beyond 13 stores and for product development and marketing.