Limelight Lab Grown Diamonds has successfully raised ₹275 crore ($29 million) in a strategic funding round. The capital influx is led by its principal promoters, the Bhathwari Group, with significant backing from core jewellery industry partners and franchise affiliates.The Mumbai-based luxury startup plans to utilise the fresh capital to strengthen its vertical integration and expand its domestic manufacturing infrastructure. They will use the money to improve their design and product development teams. This will help them meet the growing demand from shoppers who want eco-friendly luxury items.
A major portion of the strategic financing will drive the brand’s rapid offline retail growth across India. Limelight Diamonds currently operates 75+ exclusive brand outlets across over 45 cities. Armed with the new capital, the startup targets adding 100 new stores and expanding its total footprint to 200 stores across major metros, Tier-I hubs, and emerging Tier-II markets, via a combination of company-owned and franchise-operated outlets.
Founded by Pooja Madhavan, Limelight Diamonds specialises in pure Chemical Vapour Deposition (CVD) lab-grown diamonds, which offer high-purity luxury at affordable prices. The company’s growth remains deeply aligned with the Government of India’s “Make in India” initiative. By enhancing technology-led diamond manufacturing locally, the company aims to reduce dependence on imports and position India as a prominent global manufacturing and export hub for alternative luxury.
This funding helps the brand evolve to meet the changing demands of younger buyers, who now actively look for value-conscious luxury and sustainable products. BSC Advisors acted as the exclusive financial advisor for this landmark funding round.
