Aukera Raises $15M to Expand Lab-Grown Diamond Jewellery Retail in India
Aukera, a lab-grown diamond jewelry startup, has raised $15 million in growth capital. The funding round was led by Peak XV Partners, with existing investors also participating. The startup plans to use the funds to expand its physical retail presence and invest in top-tier talent.
Aukera was launched in 2023 by Lisa Mukhedkar and Kumar Saurabh. Since then, the startup has scaled its presence to 13 stores pan India within two years of operations. It currently operates in the premium segment with stores in Bengaluru, Noida, Gurugram, and Hyderabad. The brand aims to enhance its jewelry offerings in the emerging fine jewelry market. The funding will support Aukera's aggressive retail expansion plans in India, with the goal of becoming a Rs 1,000 crore business within the next five to seven years.
Aukera's significant funding round, led by Peak XV Partners, will enable the lab-grown diamond jewelry startup to accelerate its growth plans. The funds will be used to double down on physical retail and invest in top-tier talent, as the brand seeks to become a major player in the fine jewelry market.
