Lab-grown diamond jewellery startup Lucira has raised $5.5 million (Rs 48 crore) in its maiden funding round, co-led by Blume Ventures and Spring Marketing Capital, with additional backing from SiriusOne Capital Fund and angel investors including the founders of Dot & Key, Livspace, and Snitch.
The capital will be channelled into offline expansion, marketing, and team building, as the brand looks to transition from a digital-first approach to a broader omni-channel strategy.
Founded in May 2025 by Rupesh and Vandana Jain, Lucira currently lists nearly 1,000 jewellery designs on its platform. Having built its presence online, the company will soon launch its first physical store in Mumbai, followed by four more outlets by the end of FY26.
“Jewellery is a product that customers prefer to experience before purchase. While digital platforms drive discovery, retail outlets help build trust and purchase confidence,” said Rupesh Jain, Co-founder of Lucira.
According to market estimates, India’s lab-grown diamond market is valued at $400–500 million today, with projections suggesting it could touch $1.5 billion in the next three to five years. Lucira expects 80% of sales to come from offline retail in the next three years, with online channels contributing the balance.
To strengthen customer experience, the brand is also working on faster deliveries through last-mile partnerships, aiming for two-to-three-hour fulfilment directly from stores.
Lucira enters a competitive landscape that has seen heightened investor activity: Giva raised Rs 530 crore in June 2025, while Jewelbox and Firefly Diamonds secured $3.2 million and $3 million, respectively, earlier this year.
By : Arushi Agarwal
