Priyanka Gill’s Lab-grown Diamond Startup Coluxe Closes Household And Buddies Funding Spherical

Lab-grown diamond startup Coluxe has raised an undisclosed amount in its household and buddies funding spherical, with participation from merchants along with Startup Sherpas, Ajai Chowdhry, Tej Kapoor, Sairee Chahal, and others, the company talked about in an announcement on Tuesday.

The spherical moreover seen participation from Kunal Chowdhry, Rachin Dewan, and Kunal Milwani.

The capital infusion will primarily assist the mannequin’s upcoming digital launch in August 2025 along with broaden its product catalogue and infrastructure, the company acknowledged. Its full digital storefront is predicted to attribute over 300 SKUs at launch

Coluxe talked about moreover it’s in discussions with enterprise capital corporations for a deliberate seed spherical.

Coluxe was primarily based earlier this 12 months by former Good Glamm Group and Kalari Capital govt Priyanka Gill. The company offers lab-grown diamond and gemstone jewellery aimed towards frequently use. Its product range incorporates rings, earrings, pendants, bracelets, and modular stacking items.

“Lab-grown diamonds are unlocking entry in a market the place solely 6% of gold jewellery shoppers private a single diamond. On the equivalent time, shopper behaviour is evolving—girls are literally self-purchasing and looking for frequently implausible jewellery that shows their id, not merely customized. Coluxe is setting up for this new purchaser—with design, ethics, and emotional relevance on the core. This isn’t solely a mannequin; it’s a behavioural unlock in an $80 billion+ market,” shared Priyanka Gill, Founder and CEO, Coluxe in a press phrase.

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Moreover Study

Shining sensible: The rise of lab-grown diamonds in India

All through its launch in February earlier this 12 months, the company had outlined its plans to produce AI-powered digital try-ons, multi-setting designs, and personalised jewellery experiences. The principle goal might be on creating a robust retail and digital presence to produce certification, traceability, and client-friendly returns and alter insurance coverage insurance policies, talked about the company.

The lab-grown diamond market has been gaining traction amongst clients and merchants. In June, Aukera raised $15 million in progress funding to broaden its retail decisions and product lineup. The spherical was led by Peak XV Companions, along with participation from present merchants along with Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

Furthermore this, the lab-grown diamond space moreover choices producers like Limelight Lab Grown Diamonds, Fiona Diamonds, and Jewelbox. Amongst these, larger jewellery avid gamers like Aditya Birla-backed GIVA, Tata’s Pome, and Senco Gold are moreover offering their traces of lab-grown diamond jewellery.

A present report by Redseer Approach sees India’s lab-grown diamond jewellery market to be spherical $300–350 million in 2024, and rising at ~15% CAGR over the next decade.

“The sample is particularly observable amongst youthful clients who search aspirational, trendy designs. This shift is particularly pronounced in metropolis India, the place evolving tastes, rising disposable incomes, and worldwide type influences are driving a selection for diamond-studded jewellery over typical gold gadgets,” acknowledged the report from April earlier this 12 months.