Lab-grown diamond jewellery startup Lucira has raised $5.5 Mn (around INR 48 Cr) in a seed funding round led by Blume Ventures. The round also saw participation from other institutional investors including Spring Marketing Capital, SiriusOne Capital and angel investors including the founders of Dot & Key, Livspace, Snitch, and Bewakoof.
The startup plans to deploy the fresh capital to expand its omnichannel play, with the launch of four new stores by the end of FY26. It is also eyeing the launch of its first retail store in Mumbai within September. Besides, the startup is also planning to utilise the fresh capital in scaling its design studio and double down on hiring.
“We’re investing heavily in our design studio, scaling physical retail alongside digital, and ensuring every piece comes with trusted certification and guarantees. This structured approach is how we see Lucira becoming the go-to fine jewelry brand for a new generation of Indian consumers,” Lucira’s cofounder and CEO Rupesh Jain said.
Founded earlier this year by Rupesh and Vandana Jain, Lucira Jewelry designs and sells fine jewelry made with lab-grown diamonds using chemical vapor deposition (CVD) technology. It offers rings, earrings, necklaces, bracelets, pendants, and mangalsutras, along with customisation and engraving options.
Jain launched Lucira after exiting his earlier venture, Candere, which was fully acquired by Kalyan Jewellers in 2024 at a valuation of INR 300 Cr. Following the deal, he shifted focus to the lab-grown diamond segment to capture the growing consumer appetite for this category in India.
Lab-grown diamonds carry the same chemical composition and physical traits as mined ones, but come at a lower price point and are increasingly viewed as a sustainable alternative.
With the Indian market projected to grow at a CAGR of 14% to touch $8.3 Bn by 2032, the space has seen a rush of startups raising capital to cash in on the momentum. Recent entrants include True Diamond, Jewelbox, and Aukera, which have all secured funding in the past few months.
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