Lab-Grown Diamond Brand Lucira Secures $5.5 Mn from Blume Ventures, Other Investors

Lab-grown diamond jewellery start-up Lucira has raised $5.5 million funding led by Blume Ventures. Some other investors like Spring Marketing Capital, SiriusOne Capital Fund, founders of Dot&Key, Livspace, Snitch, and Bewakoof.

Notably, this is the largest ever seed round raised by a jewellery start-up in India to date. The start-up will use the fresh capital to expand its offline operations, strengthen its team, and set up marketing efforts.

“Indian consumers are moving beyond buying jewelry only for investment, they are seeking design, authenticity, and a brand they can emotionally connect with. With this backing, we aim to make Lucira the most trusted design-first fine jewellery brand from India,” said Rupesh Jain, cofounder of Lucira.

Founded by jewellery veterans Rupesh and Vandana Jain, Lucira has created a portfolio of more than 1,000 customisable lab grown diamond designs, each certified by either IGI, GIA, SGL, or  BIS and backed with lifetime exchange and buyback guarantees

The fundraise marks a bet on Rupesh’s “second innings” after building Candere into one of India’s earliest digital jewelry success stories, later acquired by Kalyan Jewellers. The brand is also launching its first retail store in Mumbai this month.

Going forward, Lucira has planned to open four new flagship stores by the end of FY26 to strengthen its digital-first buying experience, and investing in technology-led personalisation.

“Our vision is to cement Lucira as India’s most design-first fine jewelry brand, and that requires building strategically on three fronts, design leadership, omnichannel presence, and consumer trust. This fundraise is a vote of confidence from partners who understand we’re not just selling jewelry, we’re shifting mindsets,” said Rupesh.

“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,” he added.

Jain also stated that India’s lab-grown diamond market, which is currently valued at $400-500 million, is expected to grow to approximately $1.5 billion over the next three to five years. Previously, he founded the jewellery brand Candere, which was later acquired by Kalyan Jewellers after purchasing 85% stake Singularity Strategic.

Cumulative Ventures acted as the sole advisor to the transaction. Novolex served as legal advisor to Lucira Jewelry.