Latest news with #Aukera
The Hindu
30-06-2025
- Business
- The Hindu
Lab-grown diamond jewellery start-up Aukera raises $15 million, to expand network
Lab-grown diamond jewellery company Aukera on Monday said it has raised $15 million in growth capital led by Peak XV Partners with follow-on participation from existing investors, including Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital. The investment will accelerate its retail expansion plans and contribute to enhancing product offerings, Aukera said in a release. It has stores in Bengaluru, Delhi NCR and Hyderabad and expanding into new cities. The brand will scale into a Rs.1,000 crore brand in next 5-7 years', founder and CEO Lisa Mukhedkar said.
Entrepreneur
30-06-2025
- Business
- Entrepreneur
Aukera Raises USD 15 Mn Funding to Expand Lab-Grown Diamond Retail Footprint
The funding round was led by Peak XV Partners, with continued backing from existing investors including Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Lab-grown diamond jewellery brand Aukera has raised USD 15 million in a funding round led by Peak XV Partners, with continued backing from existing investors including Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital. The Bengaluru-based startup said it will deploy the capital to expand its retail footprint, strengthen its product offerings, and invest heavily in design innovation and marketing capabilities. Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera currently operates 13 company-owned stores in cities like Bengaluru, Hyderabad, and across the Delhi NCR. "Aukera is challenging the status quo," said Kumar Saurabh, Co-founder of Aukera. "This investment is meaningful as we pursue our next phase of growth." Aukera positions itself in the premium jewellery segment, offering exclusively lab-grown diamonds—a category gaining momentum globally due to consumer demand for sustainable, ethically sourced, and cost-transparent alternatives to mined diamonds. Its offerings include IGI-certified stones, customisation services, and a mix of contemporary and traditional designs, delivered through an omni-channel model combining online presence with high-footfall physical stores. The funding round arrives amid a surge of interest in India's lab-grown diamond (LGD) market, which is estimated at USD 2.6 billion and poised for continued growth. Lab-grown diamonds are created using advanced technology to replicate the physical and chemical properties of mined diamonds, with advocates touting their eco-friendliness and price efficiency. "Driven by structural tailwinds and a strong consumer shift, Aukera is well-positioned to lead India's fast-growing lab-grown diamonds category," said Abhishek Mohan, Principal at Peak XV Partners. Fireside Ventures, which first invested in Aukera in 2024, echoed this sentiment. "Aukera is not just another lab-grown diamond jewellery brand—it's aiming to redefine how fine jewellery is consumed in India," said Kanwaljit Singh, Managing Partner. Looking ahead, Aukera plans to scale to INR 1,000 crore in revenue over the next five to seven years, targeting new markets, store openings, and brand visibility initiatives to fuel its growth in a rapidly evolving segment.
Time of India
30-06-2025
- Business
- Time of India
Lab-grown diamond jewellery company Aukera raises $15 million in round led by Peak XV Partners
Academy Empower your mind, elevate your skills Lab-grown diamond jewellery company Aukera has raised $15 million in its latest funding round led by Peak XV Partners Existing investors Fireside Ventures , Sparrow Capital, Prath Ventures, and Alteria Capital also participated in the will use the funds to double down on its retail footprint and enhance its product offerings by investing in hiring design, merchandising, and marketing talent. Currently, the company has 13 offline stores across Bangalore, Delhi NCR, and Hyderabad. It will be adding two more in the next 10 in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera is a Bengaluru-based lab-grown diamond jewellery brand. The latest funding brings the total funds raised by the firm to almost $20 million.'The demand for lab-grown diamonds in India is growing phenomenally,' Mukhedkar told ET. 'Our customers, who started buying from us out of vague curiosity, are now engaging with the brand with an intent to buy backed by trust. We are seeing very high repeat and referral rates. It is between 25 and 30% within a period of six to eight months.'According to Mukhedkar, Aukera is expected to be at a Rs 200 crore annual run rate by the end of this financial year. 'We see ourselves scaling to a Rs 1,000 crore brand in the next five to seven years.'Kanwaljit Singh, founder and managing partner at Fireside Ventures, who is an existing investor in the firm, said, 'With this investment, Aukera is now poised to scale rapidly and set the benchmark for the category.''We are excited to partner with them as they scale Aukera's footprint and deepen the brand's leadership in this emerging category,' Abhishek Mohan, principal, Peak XV Partners, said in a prepared expanding lab-grown diamond industry is emerging as a promising opportunity for both brands and investors. The market, which stood at $299.9 million in 2023, is estimated to reach $1,192.3 million by 2033 at a 14.8% CAGR, according to the Industrial Extension Bureau, which is an investment promotion agency of Gujarat.
BBC News
25-06-2025
- Business
- BBC News
South Norfolk MP warns against 'carpeting' area with solar farms
An MP who said Norfolk could be "the Texas of green energy" said he was "shocked" at proposals for another large solar farm in his firm Aukera has revealed plans for the Tasway Energy Park, near Long Stratton, which it said could provide power for up to 200,000 homes."If you carpet the entire southern half of south Norfolk, that's unfair on residents," argued Labour's Ben a website detailing its proposals, Aukera said it "wishes to engage with the community and residents early to begin to enhance opportunities the project could bring". Pending planning permission, it hoped to begin building in five years' its flat terrain and available land, Norfolk is seen as an ideal place for solar farms and a number of the largest in the UK have been proposed for the government has said such schemes are necessary to reduce energy bills, cut carbon emissions and provide better energy critics have warned against the loss of agricultural land and the impact on the look of the major energy projects are planned for south Norfolk, including the 2,700 acre East Pye solar farm, another solar site at Gissing and a large battery energy storage site at Rushall. There are also plans for a 114 mile-long (184km) stretch of pylons which would run through the Long Stratton area between Norwich and Tilbury, Essex. Goldsborough, who has backed the East Pye development, said news of the 700 MW Tasway project was "shocking".He has previously compared the potential benefits of green energy in south Norfolk to the boom Texas underwent after oil was discovered there, but warned too many projects were now being proposed for his constituency:"I want to see Norfolk being at the forefront of offshore wind, onshore wind in some areas, and solar... but that needs to be spread out across the whole county, and that, as it stands, isn't happening."The MP said he only found out about Tasway when a resident contacted him, but he would be meeting with the company. On its website Aukera, which has been asked for further comment, said no final design had been it said its "proposal includes solar panels across parts of the site, with a battery energy storage system to store and release electricity when it's most needed".The government, which wants 95% of energy generated in the UK by 2030 to be "clean", will have final say on the project. Follow Norfolk news on BBC Sounds, Facebook, Instagram and X.
Fashion Network
16-06-2025
- Business
- Fashion Network
Aukera expands retail presence with stores in Noida, Bangalore
Aukera, a lab grown diamond jewellery brand has strengthened its retail presence with the launch of two new physical stores in Greater Noida and Bangalore. The Greater Noida store located at Gaur City mall is spread over 1100 sq ft while the Bangalore store situated on Sarjapur Road spans over an area of 1500 sq ft. The extensive collection at the newly launched stores feature bespoke necklaces, rings, earrings, bracelets, and more. Commenting on the expansion, Lisa Mukhedkar, founder CEO of Aukera in a statement said, 'We are overwhelmed with the phenomenal response we have received at our retail stores across India. The love and enthusiasm for our grown diamond jewellery collections underscore a significant interest in conscious luxury choices and we are proud to be at the forefront of this movement.' 'Strengthening our presence in two key markets marks a momentous occasion for us as it coincides with the launch of our exclusive Champagne Diamond collection. The collection is extremely close to our heart and each piece has been crafted with precision and attention to detail, reflecting the brand's commitment to highest quality and design excellence,' she added. With these recent additions, Aukera has expanded its offline retail network to 13 stores across Bengaluru, Hyderabad, and NCR.
