Lab-grown diamond jewellery brand Aukera has raised Rs 90 crore (over $10 million) in a funding round led by existing investor Alteria Capital. The round also saw participation from InnoVen Capital, Lighthouse Canton and a bank.
The fundraise comes less than a year after the company secured $15 million in an equity round led by Peak XV Partners, with participation from Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital.
The fresh capital will be used to expand its store network, strengthen its omnichannel operations, and invest in product development and talent.
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera sells lab-grown diamond jewellery through company-owned retail stores. Over the past year, Aukera has expanded its retail footprint from 13 stores to 35 stores. The company has entered new markets including Pune, Lucknow, Dehradun and Visakhapatnam, in addition to its presence in Bengaluru, Hyderabad and Delhi NCR.
According to the company, the expansion has helped it establish a presence across multiple cities as demand for lab-grown diamond jewellery continues to grow in India.
The company is backed by investors including Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital.