Lab Grown Diamond Brand Aukera Raises US$15 Million Funding

A fresh infusion of growth capital signals a decisive new chapter for a rising name in India’s fine jewellery evolution. Aukera, the lab-grown diamond jewellery brand, has secured US$15 million (Rs. 125 crore) in a round led by Peak XV Partners, with follow-on support from Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital. The funding is set to propel retail expansion, strengthen product offerings, and deepen customer connections in a fast-shifting luxury market.

Over the past two years, the brand has grown to 13 company-owned stores across cities like Bangalore, Hyderabad, and Delhi NCR. Each space reflects the company’s commitment to craftsmanship and customer insight. Building on this, Aukera plans to expand into new cities while maintaining direct control over brand expression. With strong sales per square foot and positive consumer feedback, the momentum has built steadily — creating a solid foundation for its next phase.

Lisa Mukhedkar, Founder & CEO, shared, “Aukera is built on a consumer insight, borne from research, that women were frustrated with the poor quality, tiny diamonds that were affordable given mined diamond prices. Aukera solves a consumer problem by offering the highest graded diamonds, designed & crafted into fine jewellery. Indeed, women in India are upgrading to grown diamond jewellery! And Aukera is proud to lead that disruption, providing exceptional value to our customers.”

Abhishek Mohan, Principal at Peak XV Partners, remarked, “Driven by structural tailwinds and a strong consumer shift, Aukera is well-positioned to lead India’s fast-growing lab-grown diamonds category. Lisa and Kumar are exceptional founders who bring complementary strengths and proven execution capabilities. We are excited to partner with them as they scale Aukera’s footprint and deepen the brand's leadership in this emerging category.”

Alongside its commercial goals, Aukera also supports a cause through its Share the Sparkle initiative — a program that funds girl child education with each piece of jewellery sold. Kumar Saurabh, Co-founder, added, “Our experience so far has only strengthened our conviction in our business model and our ability to build a truly durable brand and business.”