Lab-grown diamond jewellery startup Lucira has raised $5.5 million (₹48 crore) in a seed funding round led by Blume Ventures, with participation from SiriusOne Capital Fund, Spring Marketing Capital, and several prominent angel investors, including the founders of Dot & Key, Livspace, and Snitch.
The funds will be used to expand Lucira’s offline presence, scale its design studio, and strengthen leadership and marketing efforts. The company is set to open its first physical store in Mumbai this month, followed by four more outlets by FY26.
Founded in May 2025 by Rupesh and Vandana Jain, Lucira already offers a catalogue of nearly 1,000 products. The startup aims to build a design-led fine jewellery brand using lab-grown diamonds and recycled gold, providing sustainable and affordable alternatives to mined diamonds.
Rupesh Jain, who earlier founded Candere (acquired by Kalyan Jewellers in 2017), brings extensive experience in jewellery retail and digital-first brand building.
India’s lab-grown diamond market, currently estimated at $400–500 million, is projected to touch $1.5 billion in the next 3–5 years, underscoring strong demand. Lucira expects its revenue mix to lean towards 80% offline and 15–20% online sales within three years. To enhance convenience, it is also working on 2–3 hour order fulfillment from its stores through faster last-mile delivery systems.
The funding comes amid growing investor interest in the jewellery sector, with rival startups such as Giva, Jewelbox, and Firefly Diamonds also raising sizeable rounds this year.