Bengaluru-based lab-grown diamond jewellery startup ONYA has raised ₹12.5 crore in a pre-Series A funding round led by Divisa Family Office. Existing investor Zeropearl VC also participated in the round, doubling down on its initial investment following ONYA’s ₹5.5 crore seed round.
The company’s earlier seed round also saw participation from angel investors, including the founders of MyGate, UrbanVault, and others.
ONYA said the fresh capital will be deployed toward expanding its retail footprint, accelerating digital customer acquisition, improving online personalisation, and strengthening research and development across product design and manufacturing.
Building a Contemporary Lab-Grown Diamond Brand
Founded in 2024 by Gaurav Choudhary and Himani Yadav, ONYA is building a contemporary lab-grown diamond jewellery brand that combines design with technology and manufacturing.
The Bengaluru-based company offers IGI-certified lab-grown diamonds set in BIS Hallmarked gold, with a focus on personalised jewellery and contemporary designs.
ONYA positions lab-grown diamonds as an alternative to natural diamonds, with the company stating that its products offer higher brilliance at approximately 20% of the cost of natural diamonds. The brand also offers a lifetime exchange and buyback promise.
Its product portfolio includes the ONYA Setting, a patented ring setting developed by the company, as well as the ONYA Signature Collection, which draws design inspiration from Neoclassical architecture.
Eight Flagship Stores Across Key Markets
Since its launch, ONYA says it has expanded its retail presence to eight flagship stores across major high streets in Bengaluru, along with stores at Amanora Gold Souk Mall in Pune and Road No. 36, Jubilee Hills, Hyderabad.
The company has also scaled to approximately ₹3.5 crore in monthly recurring revenue, according to the startup.
With the latest funding, ONYA plans to expand into additional markets through a combination of company-owned stores and franchise outlets.
The company is also investing in its digital acquisition strategy and online personalisation capabilities as it works to build an omnichannel customer experience.
Growing Investor Interest in Lab-Grown Diamonds
ONYA’s latest fundraise comes amid increasing investor activity in India’s lab-grown diamond jewellery segment.
According to the figures cited by the company, nine pure-play lab-grown diamond startups collectively raised $26.4 million in 2025, compared with $4.7 million in 2024.
Several players in the category have raised capital in recent months. Aukera raised ₹90 crore in debt funding in July 2026 following a $15 million equity round led by Peak XV Partners. Limelight Lab Grown Diamonds raised ₹275 crore in a strategic funding round to expand its manufacturing and retail operations.
Meanwhile, GIVA, which operates the lab-grown diamond brand Heer, raised ₹530 crore in a Series C round. Other funded companies in the segment include Jewelbox, Lucira Jewellery, True Diamond and Fiona Diamonds.
ONYA competes in a growing market alongside brands such as Aukera, Limelight, Jewelbox and Fiona.
Capital to Support Retail and Product Innovation
The latest funding gives ONYA additional capital to expand its physical retail network while investing in product development and digital customer acquisition.
The company plans to continue developing its proprietary jewellery designs and manufacturing capabilities while expanding its presence beyond its current markets.
As lab-grown diamonds gain greater traction in India’s jewellery market, ONYA is positioning its combination of physical retail, digital personalisation and proprietary product design as it looks to scale its brand across the country.
By: Arushi Agarwal
