Lab-grown diamond brand Aukera raises Rs 90 Cr funding

Aukera, a lab-grown diamond jewellery brand, has raised Rs 90 crore in a fresh round of funding led by existing investor Alteria Capital, along with InnoVen Capital, Lighthouse Canton, and a leading bank.

Aukera said it will use the fresh capital for opening new stores, invest in design, product innovation and talent. Besides, the funding will also be used to strengthen its omnichannel infrastructure.

Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera has raised $15 million previously from Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

“This category will not be won on discounting—it will be won on trust, quality and brand,” said Lisa Mukhedkar, Founder & CEO, Aukera. “This capital lets us take that promise to many more cities, faster."

According to this startup, since the last funding round, it has grown its company owned stores network from 13 to 35 and expanded beyond Bengaluru, Hyderabad and Delhi NCR into cities including Pune, Lucknow, Dehradun and Vizag.

“We believe this category will require the top player to invest at least ₹1,000 crore, as the mining industry resets to recognise the permanence of grown diamonds,” said Kumar Saurabh, Co-founder, Aukera.

Aukera occupies the premium end of India's lab-grown diamond market. It claimed that every diamond is of the highest grades, certified to the most exacting global standards. Actor Taapsee Pannu is the brand ambassador.

According to a report by Vantage Market Research, the India lab grown diamonds market size was estimated at $2.8 billion in 2025 and is projected to reach $ 11.6 billion by 2035 at a CAGR of 15.4% from 2026 to 2035.

The report noted that this expansion reflects a structural rebalancing in the global diamond value chain, where cost efficiency, traceability, and scalable production are reshaping sourcing decisions.