Kolkata-based lab-grown diamond jewellery brand, Jewelbox, has raised $3.2 million in a funding round led by V3 Ventures.
The startup plans to use the capital to expand its retail presence, enhance brand visibility, and hire talent across key functions.
Jewelbox currently operates eight stores across six cities in India and aims to scale to 30 stores by the end of the year.
The lab-grown diamond industry is gaining attention and the competition is seen as validation for the category, according to Jewelbox's cofounder, Vidita Kochar Jain.