Lab grown diamond jewellery brand Limelight Diamonds has raised nearly $29 million (Rs 275 crore) in a strategic funding round led by the company’s core promoters, the Bhathwari Group, along with participation from key strategic partners from the jewellery industry.
The round also saw strong participation from several of the company’s franchise partners, according to a company statement.
The capital has been raised through a combination of equity and cash consideration and will be utilised towards strengthening the company’s vertical integration capabilities, expanding manufacturing infrastructure, enhancing design and innovation capabilities, and accelerating retail expansion across India.
“At a time when Hon’ble Prime Minister’s ‘Make in India’ vision is driving focus towards domestic manufacturing and global competitiveness, we believe lab grown diamonds present a significant opportunity for India to lead a new-age luxury category globally. This investment will help us strengthen Indian manufacturing, accelerate retail expansion, and build a world-class brand from India for the world,” said Pooja Madhavan, founder and managing director of Limelight Diamonds.
Founded by Madhavan in 2019, Mumbai-based Limelight boasts a retail footprint of 75+ exclusive brand outlets across 45+ cities. The company’s collections span solitaires, everyday fine jewellery and statement pieces, catering to modern Indian consumers.
The company aims to significantly increase its national retail footprint through a combination of company-owned and franchise-operated stores, with a target of adding 100 stores in 2026 and scaling up to 200 stores by 2027.
