Blume Ventures Leads USD 5.5 Mn Round in Lucira Jewelry Lucira plans to channel the newly raised capital toward opening new retail stores, expanding its design studio, and strengthening its technology and hiring efforts.
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Lucira Jewelry has raised USD 5.5 million in seed funding, which it said is the largest seed investment to date for a jewelry startup in India.
The round was led by Blume Ventures with participation from Spring Marketing Capital, SiriusOne Capital Fund and several individual investors, including the founders of Dot & Key, Livspace, Snitch, and Bewakoof.
The company was founded by Rupesh and Vandana Jain, with a focus on design-led fine jewelry crafted from lab-grown diamonds and recycled gold. Rupesh Jain previously founded Candere, an online jewelry platform that was acquired by Kalyan Jewellers in 2017. With Lucira, the founders are aiming to combine sustainability, modern design, and technology to meet the shifting consumer preferences in the fine jewelry space.
Lucira plans to channel the newly raised capital toward opening new retail stores, expanding its design studio, and strengthening its technology and hiring efforts. The first store is scheduled to open in Mumbai this month, while four additional flagship outlets are expected by the end of FY2026.
At present, the company claims to offer more than 1,000 customisable lab-grown diamond designs, certified by leading global and domestic bodies including IGI, GIA, SGL, and BIS. It also provides lifetime exchange and buyback assurances.
The funding comes amid a period of growing investor interest in jewelry startups, especially those working with lab-grown diamonds and demi-fine jewelry. Several brands in the segment have recently secured capital to expand their footprints and product lines.
Aukera, a lab-grown diamond brand, raised USD 15 million in growth capital from Peak XV Partners, with plans to scale its retail presence and broaden its product portfolio.
Firefly Diamonds secured USD 3 million in seed funding from WestBridge Capital, while Kolkata-based Jewelbox raised USD 3.2 million in a pre-Series A round led by V3 Ventures to expand its store count from eight to around 30.
True Diamond attracted INR 26 crore in a pre-Series A round led by India Quotient, with the company aiming to enhance offline experiences in large urban markets. In the demi-fine space, Palmonas secured INR 55 crore in a Series A round from Vertex Ventures Southeast Asia and India to support plans for 100 new stores.
Nuyug, a celebration-wear jewelry brand, also entered the investment landscape with INR 2.5 crore in pre-seed funding led by AJVC and angel investors.
