Palmonas Raises Rs 55 Crore to Redefine Everyday Jewellery
- Shark Tank India-featured brand to open 100 new stores in 12 months.
- Backed by Vertex Ventures SEA & India in Series A round.
- Co-founder Shraddha Kapoor champions jewellery as “a second skin.”
Palmonas, the demi-fine jewellery brand that shot to fame after its Shark Tank India appearance, has raised Rs 55 crore in a Series A funding round led Vertex Ventures SEA & India.
Founded in 2022 ,Shraddha Kapoor, Amol Patwari, and Pallavi Mohadikar, Palmonas is positioning itself as the bridge between fast fashion and fine jewellery. Its waterproof, skin-safe, and design-led pieces combine craftsmanship with everyday practicality making jewellery an effortless part of modern living.
Since inception, the brand claims to have delivered over 6.5 lakh orders. With the fresh capital, Palmonas plans to strengthen its signature 9kt gold demi-fine collection, launch 100 new stores in the next year, and scale its best-selling categories.
Founded in 2022 ,Shraddha Kapoor, Amol Patwari, and Pallavi Mohadikar, Palmonas is positioning itself as the bridge between fast fashion and fine jewellery. Its waterproof, skin-safe, and design-led pieces combine craftsmanship with everyday practicality making jewellery an effortless part of modern living.
Since inception, the brand claims to have delivered over 6.5 lakh orders. With the fresh capital, Palmonas plans to strengthen its signature 9kt gold demi-fine collection, launch 100 new stores in the next year, and scale its best-selling categories.
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Shraddha Kapoor said,
Sharing her vision for growth, Pallavi Mohadikar, CEO & Co-founder, added, “Just 10 days after the idea of Palmonas was born, we launched our first collection. That spirit of speed, ambition, and customer obsession continues to guide us. With this funding, we’re ready to expand faster, design bolder, and bring Palmonas into the everyday lives of millions.”
Backing the brand’s momentum, Kanika Mayar, Partner at Vertex Ventures SEA & India, said, “Palmonas is redefining jewellery for the modern Indian consumer. The founders have executed brilliantly across brand, design, and product, and we’re excited to support their journey as they scale nationally and globally.”
Palmonas was last valued at Rs126 crore in February 2025 after raising Rs 1.26 crore from Namita Thapar and Ritesh Agarwal during Shark Tank India Season 4. Earlier, it had closed an angel round of Rs 6 crore. Shraddha Kapoor formally joined as co-founder in March 2024.
Shraddha Kapoor said,
Jewellery should feel like a second skin beautiful, effortless, and part of your everyday life. Palmonas was born from the belief that jewellery should be part of your daily story, not locked away for rare occasions. This investment will help us take that belief to every corner of India and, eventually, the world
Sharing her vision for growth, Pallavi Mohadikar, CEO & Co-founder, added, “Just 10 days after the idea of Palmonas was born, we launched our first collection. That spirit of speed, ambition, and customer obsession continues to guide us. With this funding, we’re ready to expand faster, design bolder, and bring Palmonas into the everyday lives of millions.”
Backing the brand’s momentum, Kanika Mayar, Partner at Vertex Ventures SEA & India, said, “Palmonas is redefining jewellery for the modern Indian consumer. The founders have executed brilliantly across brand, design, and product, and we’re excited to support their journey as they scale nationally and globally.”
Palmonas was last valued at Rs126 crore in February 2025 after raising Rs 1.26 crore from Namita Thapar and Ritesh Agarwal during Shark Tank India Season 4. Earlier, it had closed an angel round of Rs 6 crore. Shraddha Kapoor formally joined as co-founder in March 2024.
