The growth capital round was led by Peak XV Partners, with continued backing from existing investors Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

The Bengaluru-headquartered brand, which currently operates retail outlets in Delhi NCR, Hyderabad, and its home city, plans to use the new funds to widen its retail footprint and invest in diversifying its product lines.

With growing consumer interest in sustainable and ethically sourced jewellery, Aukera aims to position itself as a market leader in India’s lab-grown diamond segment. “We are on track to build a Rs.1,000 crore brand in the next five to seven years,” said Lisa Mukhedkar, Founder and CEO of Aukera.

The company’s latest funding round comes amid rising demand for lab-grown diamonds among urban millennials and Gen Z consumers, who are increasingly seeking value-driven, eco-conscious alternatives to mined stones.