Lab-grown diamond jewellery start-up Aukera has secured $15 million funds in its latest round led by Peak XV Partners. Some existing investors, including Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital also participated in the round.
Lab-Grown Diamond Jewellery Start-Up Aukera Raises $15 Mn from Peak XV, Other Investors
Backed by Peak XV Partners and Fireside Ventures, Bengaluru-based jewellery start-up Aukera has raised $15 million to strengthen its position in the fast-growing lab-grown diamond segment. The brand, founded in 2023, is doubling down on retail expansion and aims to redefine fine jewellery for the modern Indian consumer
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The start-up will use the fresh capital in its retail expansion, and enhance its product offerings. Currently, Aukera has 13 stores across Bengaluru, Delhi-NCR, and Hyderabad. It will now two more stores in the next few days.
“Auker is built on a consumer insight, borne from research, that women were frustrated with the poor quality, tiny diamonds that were affordable given mined diamond prices. Aukera solves a consumer problem by offering the highest graded diamonds, designed and crafted into fine jewellery,” said Lisa Mukhedkar, founder and CEO of Aukera.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera is a lab-grown diamond jewellery brand based in Bengaluru. With the latest fundraise, the start-up has raised $20 million to date.
“Aukera is well-positioned to lead India’s fast-growing lab-grown diamonds category. Lisa and Kumar are exceptional founders who bring complementary strengths and proven execution capabilities. We are excited to partner with them as they scale Aukera’s footprint and deepen the brand's leadership in this emerging category,” said Abhishek Mohan, Principal, Peak XV Partners.
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Kanwaljit Singh, Founder and Managing Partner at Fireside Ventures said Aukera is not just another lab-grown diamond jewellery brand, it’s the front runner redefining the future of fine jewellery, built on consumer insight.
With this investment, Aukera is now poised to scale rapidly and set the benchmark for the category, he said, adding that the start-up stands apart as a statement of intent for the industry and a signal of trust for the modern consumer.
As it plans to expand, Aukera claims to be on track to scale to ₹1,000 crore in revenue within the next 5 - 7 years, shaping the future of modern Indian luxury.
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