PE-VC Fund Investments
Demi-fine jewellery startup Palmonas to raise Rs.200-Cr led by Xponentia Capital
Demi-fine jewellery startup Palmonas is to raise INR 200 crore (USD 22 million) in a Series B round led by Xponentia Capital, with participation from existing investor Vertex Ventures. As a part of the round, the startup will raise INR 110 crore in the first tranche, with the rest coming in later. Xponentia plans to invest INR 179 crore (nearly USD 20 million). Vertex Ventures will invest INR 21 crore.Founded in 2022 by Amol Patwari and Pallavi Mohadikar, Palmonas specializes in demi-fine jewellery, including necklaces, rings, bracelets, earrings, and mangalsutras, made from stainless steel with gold vermeil coating.For the fiscal year ended March 2025, Palmonas reported an operating revenue of INR 39 crore and a profit of INR 4.3 crore.
Between May 2025 and Aug 2025, Palmonas had attracted about USD 7 M from Vertex and LC Nueva.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
