Priyanka Gill's lab-grown diamond startup Coluxe closes friends and family funding round
Coluxe's capital injection is expected to support its digital launch in August 2025 as well as expand its product catalogue and infrastructure.
Lab-grown diamond startup Coluxe has raised an undisclosed amount in its friends and family funding round, with participation from investors including Startup Sherpas, Ajai Chowdhry, Tej Kapoor, Sairee Chahal, and others, the company said in a statement on Tuesday.
The round also saw participation from Kunal Chowdhry, Rachin Dewan, and Kunal Milwani.
The capital infusion will primarily support the brand’s upcoming digital launch in August 2025 as well as expand its product catalogue and infrastructure, the company stated. Its full digital storefront is expected to feature over 300 SKUs at launch
Coluxe said it is also in discussions with venture capital firms for a planned seed round.
Coluxe was founded earlier this year by former Good Glamm Group and Kalari Capital executive Priyanka Gill. The company offers lab-grown diamond and gemstone jewellery aimed at everyday use. Its product range includes rings, earrings, pendants, bracelets, and modular stacking sets.
"Lab-grown diamonds are unlocking access in a market where only 6% of gold jewellery buyers own a single diamond. At the same time, consumer behaviour is evolving—women are now self-purchasing and seeking everyday fine jewellery that reflects their identity, not just tradition. Coluxe is building for this new buyer—with design, ethics, and emotional relevance at the core. This isn’t just a brand; it’s a behavioural unlock in an $80 billion+ market," shared Priyanka Gill, Founder and CEO, Coluxe in a press note.
During its announcement in February earlier this year, the company had outlined its plans to offer AI-powered virtual try-ons, multi-setting designs, and personalised jewellery experiences. The focus would be on creating a strong retail and digital presence to offer certification, traceability, and client-friendly returns and exchange policies, said the company.
The lab-grown diamond market has been gaining traction among consumers and investors. In June, Aukera raised $15 million in growth funding to expand its retail offerings and product lineup. The round was led by Peak XV Partners, along with participation from existing investors including Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.
Besides this, the lab-grown diamond space also features brands like Limelight Lab Grown Diamonds, Fiona Diamonds, and Jewelbox. Among these, larger jewellery players like Aditya Birla-backed GIVA, Tata's Pome, and Senco Gold are also offering their lines of lab-grown diamond jewellery.
A recent report by Redseer Strategy sees India’s lab-grown diamond jewellery market to be around $300–350 million in 2024, and growing at ~15% CAGR over the next decade.
"The trend is particularly observable among younger consumers who seek aspirational, modern designs. This shift is particularly pronounced in urban India, where evolving tastes, rising disposable incomes, and global fashion influences are driving a preference for diamond-studded jewellery over traditional gold pieces," stated the report from April earlier this year.
Edited by Kanishk Singh