Kolkata Jewelry Startup Jewelbox Secures Funding for Growth

Pic Credit : Jewelbox
Preeti Bali / 2:10 pm / March 20, 2024

Jewelbox, a Kolkata-based company specializing in lab-grown diamond jewelry, has successfully raised INR 3.5 crore in funding. The investment round was led by JITO Incubation and Innovation Foundation (JIIF), a prominent Indian angel network. Additional contributions came from the founders’ close associates. JIIF, known for its community focus, provided a significant portion of the funding, amounting to INR 2.97 crore.

The Next Chapter of Jewelbox: Increasing Skill and Retail Presence

Founded in 2022 by Nipun Kochar and Vidita Kochar, Jewelbox has swiftly gained recognition for its exquisite lab-grown diamond creations. The newly acquired capital will be used to fuel the company’s expansion strategy, with a focus on recruiting talent and establishing new retail stores.

JITO Incubation and Innovation Foundation’s Chairman, Mr. Rajat Mehta, expressed his enthusiasm for Jewelbox’s innovative approach and commitment to quality and sustainability. “Jewelbox’s unique approach to creating exquisite jewelry using lab-grown diamonds appeals to today’s environmentally conscious consumers,” he said. We believe their dedication to excellence and eco-friendly practices will propel significant growth within the industry, raising the bar for both quality and sustainability.”

The demand for lab-grown diamonds is on a steady rise, with industry research from Teji Mandi suggesting the market could reach 160 million carats by 2030. This signifies a growing acceptance of lab-grown diamonds within the Indian market.

Nipun Kochar’s Vision: Using lab-grown diamonds to transform the jewelry industry

Nipun Kochar, Co-founder of Jewelbox, expressed his excitement about the funding round and the guidance received from industry veterans. “We are thrilled to receive mentorship from seasoned industry professionals who participated in this round. Building Jewelbox has been a remarkable journey, driven by our shared passion for redefining luxury using lab-grown diamonds. Our commitment to quality and sustainability permeates every aspect of our business, and with this investment, we’re eager to see our positive impact resonate throughout the industry.”

Jewelbox seamlessly blends cutting-edge technology with enduring elegance to create stunning jewelry crafted with lab-grown diamonds. The company offers sustainable luxury, symbolizing empowerment and beauty for its discerning clientele.

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