India’s lab-grown diamond jewellery market continues to attract strong investor confidence as Bengaluru-based startup Aukera has raised ₹90 crore (approximately $10 million) in a fresh funding round. The investment, led by existing investor Alteria Capital, marks another major milestone for the fast-growing jewellery brand as it strengthens its presence across India’s premium retail market.

Alteria Capital Leads Fresh Investment Round

The latest funding round was led by Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton, and an undisclosed banking partner. The fresh capital will help Aukera accelerate its growth strategy by expanding into new cities, strengthening its retail infrastructure, enhancing product innovation, and hiring talent across business functions.

This comes just a year after the company raised $15 million in an equity financing round led by Peak XV Partners, reflecting continued investor confidence in the rapidly growing lab-grown diamond segment.

Expansion Plans Across India

Aukera plans to use the newly raised capital to significantly increase its retail footprint across India. The company intends to launch new stores in both existing and untapped markets while enhancing customer experience across its physical outlets and digital platforms.

Founder and CEO Lisa Mukhedkar stated that the investment will allow the company to reach more cities at a faster pace, making premium lab-grown diamond jewellery accessible to a wider customer base.

The startup also plans to invest heavily in design innovation, technology, and operational infrastructure to support its omnichannel retail strategy.

Rapid Retail Growth Since Last Funding

Since its previous fundraising round, Aukera has witnessed remarkable expansion. The company has increased its network of company-owned stores from 13 outlets to 35 stores, demonstrating strong demand for sustainable and affordable luxury jewellery.

Initially operating in Bengaluru, Hyderabad, and the Delhi NCR region, Aukera has successfully expanded into several emerging markets, including Pune, Lucknow, Dehradun, and Visakhapatnam. The aggressive expansion strategy highlights the growing consumer acceptance of lab-grown diamonds across both metro and Tier-II cities.

Betting Big on the Future of Lab-Grown Diamonds

Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera specializes in premium lab-grown diamond jewellery sold through its online platform and exclusive retail stores.

According to co-founder Kumar Saurabh, building a market-leading lab-grown diamond brand in India will require substantial long-term investments. He believes companies in this space may eventually need to invest over ₹1,000 crore as consumer demand shifts toward lab-grown diamonds as a permanent alternative to mined diamonds.

With sustainability, affordability, and innovation driving customer preferences, the Indian lab-grown diamond industry is expected to witness rapid growth over the coming years. Aukera’s latest funding reinforces investor optimism and positions the startup as one of the leading players shaping the future of India’s modern jewellery market.

Featured on The Startup Caffe

Aukera has raised ₹90 crore to accelerate its nationwide expansion and strengthen its position in India’s rapidly growing lab-grown diamond jewellery market.

The fresh funding will fuel retail growth, product innovation, and omnichannel expansion as the startup eyes long-term leadership in the sustainable luxury segment.