Private Equity VC Fund Investments
Lab-diamonds brand Firefly raises $3-M led by WestBridge Capital
Source Entrackr (opens in a new tab)Business Standard (opens in a new tab)
Mumbai-based diamond jewellery brand Firefly Diamonds has raised USD 3 million in a seed funding round led by WestBridge Capital. The fresh proceeds will be used to accelerate the brand’s retail expansion, digital presence, and fuel research and development (R&D) for new jewellery collections.Founded in 2023 by Adit Bhansali and Aayush Bhansali, Firefly sells lab-grown diamonds that offer the same physical, optical and chemical characteristics as mined diamonds, but with production having dramatically lower impact on the environment. Offering fine jewellery set in 14K and 18K gold, it currently operates stores in Mumbai, Pune, Bengaluru, and Hyderabad with a plan to expand to over 20 locations.