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Bengaluru-based lab grown diamond brand Aureka Jewellery went from ₹5 crore revenue to ₹200 crore ARR
As Indian consumers become more aware of sustainability, ethics, and better value, lab grown diamonds are moving into the mainstream.
Aukera Jewellery, founded in 2023, tapped into this trend early, offering high-quality lab grown diamond jewellery with a focus on design, trust, and transparency.
By combining premium products with a growing network of stores, the brand has scaled rapidly, quickly gaining recognition among urban, conscious buyers.
Meet the Founders - Lisa Mukhedkar & Kumar Saurabh
Lisa Mukhedkar, Founder and CEO of Aukera Jewellery, has a background in jewellery and luxury. Before starting Aukera, she worked with Platinum Guild International, helping build the platinum jewellery category in India. Her experience influenced how Aukera was positioned from the start.
In 2024, Kumar Saurabh joined Aukera Jewellery as Co-founder. He was previously CEO of Dindigul Thalappakatti Restaurants and brought experience in running stores and expanding businesses across multiple cities.
The name Aukera comes from a Basque word meaning “choice,” reflecting the brand’s focus on giving customers meaningful options.
About Aukera Jewellery
Aukera Jewellery is a fine jewellery brand built entirely around lab grown diamonds. The diamonds are CVD-grown, IGI-certified, and look and feel like mined diamonds. The collection includes rings, earrings, pendants, bracelets, and solitaires in gold and platinum.
The brand speaks mainly to urban women and positions jewellery as a way to express confidence and independence. Designs combine modern style with lasting quality.
Aukera Jewellery uses a 5C approach—Carat, Colour, Clarity, Cut, and Choice—so customers know exactly what they are buying.
Aukera Jewellery Business Model Explained
Aukera Jewellery follows an omnichannel business model with a strong offline focus. While e-commerce plays a supporting role in discovery and repeat purchases, physical stores are central to educating customers and building trust in the high-ticket lab grown diamond category.
By mid-2025, Aukera Jewellery reported around 13 stores across Bengaluru, Delhi-NCR and Hyderabad. The brand concentrates on premium solitaires, engagement rings and wedding jewellery, which helps maintain higher average order values while offering pricing advantages over mined diamonds through direct sourcing.
Aukera Jewellery Revenue and Funding
Aukera Jewellery reported around ₹5.2 crore in revenue in FY24, its first full year, with a net loss of about ₹2.85 crore. The losses came from spending on brand building, inventory, hiring, and opening its first stores.
By FY25, reports suggested revenue had grown to ₹30–35 crore, over five times the previous year. Investors noted improving efficiency, and the brand is now approaching a ₹200 crore annualized run-rate, showing rapid growth.
To support expansion, Aukera raised ₹26.7 crore in Series A in 2024 and $15 million in Series B in 2025. After the Series B, the company was valued at around ₹600 crore, reflecting strong confidence in its future.
How Did Aukera Jewellery Achieve Such Rapid Revenue Growth?
Aukera Jewellery’s growth is the result of a mix of smart store expansion, premium products, and clear brand messaging. The company focused on building trust with customers while offering jewellery that aligns with modern values.
Offline-first retail expansion built trust quickly
Opening physical stores early helped Aukera Jewellery connect with customers in high-income urban areas. These stores allowed shoppers to see and try high-value lab grown diamond jewellery, which built credibility and encouraged word-of-mouth recommendations. Each new store helped the brand grow city by city.
Premium product mix lifted average order values
Rather than focusing on volume, Aukera Jewellery concentrated on solitaires, engagement rings, and wedding jewellery with larger lab grown diamonds. This approach meant that even a small increase in customers led to a significant rise in revenue, thanks to higher average spending per sale.
Strong alignment with lab grown diamond adoption trends
As more buyers in India looked for ethical, traceable, and affordable alternatives to mined diamonds, Aukera Jewellery positioned itself as a premium choice. Growing awareness around lab grown diamonds helped the brand attract customers who valued both quality and responsibility.
Clear brand positioning around choice and empowerment
Aukera Jewellery speaks directly to urban women making independent decisions. By focusing on empowerment and personal choice, the brand stands out in a crowded market and encourages customers to pay for quality rather than wait for discounts.
High repeat and referral contribution in mature markets
Once stores were established, repeat purchases and referrals quickly became a meaningful part of revenue. Life-event purchases, such as engagements and weddings, naturally led to multiple transactions from the same customer base.
Capital-backed execution enabled fast scaling
Funding from Fireside Ventures and Peak XV Partners gave Aukera Jewellery the resources to expand stores, hire staff, and stock inventory without slowing down growth. This allowed the company to maintain strong revenue momentum even during rapid expansion.
The Road Ahead for Aukera Jewellery
With new funding, growing brand recognition, and more stores, Aukera Jewellery is moving into its next stage of growth. The company plans to expand further in metro cities, improve efficiency, and gradually become profitable as it scales.
As lab grown diamonds become more popular in India, Aukera Jewellery’s focus on choice, empowerment, and careful execution puts it in a strong position to shape the future of fine jewellery.