Aukera is rapidly emerging as one of India’s most ambitious and agile lab-grown diamond jewelry brands, securing nearly $20 million in total funding—including a $15 million Series B round in June 2025 led by Peak XV Partners. In less than three years since its 2023 founding, Aukera has opened 13 stores across major metros, grown to a ₹200 crore annualized run rate, and set its sights on a ₹1,000 crore milestone—delivering premium designs and democratizing diamonds for India’s new generation of urban consumers.
Aukera: What Sets the Brand Apart?
Founded by Lisa Mukhedkar and Kumar Saurabh, Aukera operates as a premium omnichannel fine jewelry movement. Capitalizing on a surge of interest from younger, better-informed shoppers, Aukera’s core pitch is “diamonds without compromise”—high-carat, IGI-certified lab-grown stones set in white, pink, or yellow gold and platinum, at everyday price points. Its evolving catalog spans solitaires, fashion pieces, and customizable bridal jewelry, appealing to a consumer base hungry for both sustainability and personalized luxury.
As CEO Mukhedkar explains:
“The demand for lab-grown diamonds in India is growing phenomenally. Our customers, who started buying from us out of vague curiosity, are now engaging with the brand with an intent to buy backed by trust. We are seeing very high repeat and referral rates. It is between 25 and 30% within a period of six to eight months”.
Omnichannel Expansion: Next-Level Growth
Aukera’s expansion playbook balances tech innovation, deep curation, and a physical-digital hybrid footprint. With 13 company-owned showrooms in high-traffic locations across Bengaluru, Delhi NCR, and Hyderabad, and two more stores set to open by year-end, Aukera’s team plans to reach at least 30 doors by 2027. Unlike many rivals who rely on franchisees or pure-play e-commerce, Aukera controls its entire customer experience.
Alongside retail growth, Aukera is investing aggressively in AR-based virtual try-ons, nationwide home delivery, and a “design lab” for rapid product launches. Special releases, such as its 2025 Festival Solitaires line, drive event-based sales and deepen brand affinity.
Funding, Team & Business Model
Aukera’s Series B was led by Peak XV Partners and joined by Fireside Ventures, Alteria Capital, Prath Ventures, and Sparrow Capital. According to Fireside’s Kanwaljit Singh:
“With this investment, Aukera is now poised to scale rapidly and set the benchmark for the category”.
The capital is earmarked for hiring design and merchandising talent, launching new marketing initiatives, boosting brand visibility, and doubling down on retail. Aukera’s focus is to offer a broad range of jewelry—everyday designs to bespoke made-to-order—with IGI certification as the norm and customization as a key feature.
The Market Opportunity: India’s Diamond Rush
Lab-grown diamonds are gaining rapid traction as India’s $2.6 billion LGD jewelry market is projected to grow at a CAGR of nearly 15% over the next decade. Aukera, with its customer education focus and advanced omnichannel infrastructure, looks set to ride the consumer trend toward larger, “guilt-free” stones and ethical fine luxury.
Abhishek Mohan, principal at Peak XV Partners, underscores Aukera’s position:
“We are excited to partner with them as they scale Aukera’s footprint and deepen the brand’s leadership in this emerging category”.
Five-Year Vision: ₹1,000 Crore and Beyond
Aukera’s business model—premium design, strict quality control, and hybrid sales channels—has led to strong repeat business. The company expects to cross a ₹200 crore annual run rate by FY26, with the long-term aim of becoming a ₹1,000 crore brand within seven years.
With consumers increasingly valuing customization, sustainability, and transparency, Aukera’s growth trajectory may well make it the brand that ushers a new era in Indian jewelry—where legacy, ethics, and accessibility coexist for the next generation of buyers.
