Lab-Grown Diamond Jeweller Aukera Raises ₹90 Cr Fresh Funding Led by Alteria Capital
Bengaluru, July 10, 2026: Premium lab-grown diamond jewellery brand Aukera has raised ₹90 crore (over $10 million) in a fresh funding round to strengthen its balance sheet and accelerate its aggressive national retail expansion.
The debt-led round was spearheaded by existing investor Alteria Capital, with active participation from InnoVen Capital, Lighthouse Canton, and a leading commercial bank.
Rapid Capital Infusion and Scale-up
This latest fundraise comes less than 12 months after the Bengaluru-based startup closed a $15 million equity round led by Peak XV Partners, alongside Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital. This rapid pace of back-to-back institutional funding underscores the robust growth trajectory of the company and strong investor conviction in India's expanding lab-grown diamond segment.
The capital injection arrives at a time of intensifying competition, as major players enter the arena—most notably Titan with its own lab-grown diamond brand, Beyon.
Aukera’s operational scale-up has been visible on the ground. Over the last year, the company expanded its network of company-owned experience stores from 13 to 35 outlets. Beyond its primary strongholds in Bengaluru, Hyderabad, and Delhi-NCR, Aukera has rapidly penetrated tier-2 markets, setting up stores in Pune, Lucknow, Dehradun, and Visakhapatnam (Vizag).
Strategic Allocation of Capital
The company plans to deploy the fresh capital toward the following strategic areas:
Retail Footprint: Accelerating store openings in both new and existing urban markets.
Omnichannel Capabilities: Strengthening the digital and supply chain infrastructure supporting its physical retail engines.
Core Asset Upgrades: Continued investments in original, in-house product design, trademarked diamond cuts, and specialized talent acquisition.
Executive Perspectives
"This category will not be won on discounting—it will be won on trust, quality, and brand. This capital lets us take that promise to many more cities, faster."
— Lisa Mukhedkar, Founder & CEO, Aukera
"We believe this category will require the top player to invest at least ₹1,000 crore, as the mining industry resets to recognize the permanence of grown diamonds. We are building the balance sheet and the business to be that player."
— Kumar Saurabh, Co-Founder, Aukera
Market Context & Brand Positioning
Founded in 2023 by Lisa Mukhedkar and Kumar Saurabh, Aukera positions itself at the premium end of the consumer market, leveraging an omni-channel retail strategy and utilizing actor Taapsee Pannu as the face of the brand. To match traditional fine jewellery houses, the startup backs all product transactions with assured buyback and exchange programs to anchor customer trust.
The lab-grown diamond sector continues to show massive momentum in India, driven by younger demographics choosing sustainable, higher-grade, and structurally identical diamond alternatives at a more accessible price point compared to mined stones. Backed by its prominent institutional roster, Aukera remains on track toward its stated long-term milestone of building a ₹1,000 crore brand.