Lab-grown diamond firm Jewelbox in talks to raise Rs.50-Cr led by Physis Capital

Bengaluru-based Jewelbox , a lab-grown diamond jewellery company, is in talks to raise Rs.50-Cr in a new funding round. The transaction is set to be led by Physis Capital, with participation from existing investor V3 Ventures. Following this investment, the firm is expected to reach a post-money valuation of approximately Rs.300-Cr.Founded in 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox retails lab-grown diamond jewellery through its own website and various physical store locations. The company currently maintains a retail presence in nine cities, including Mumbai, Kolkata, Delhi, and Bengaluru. The firm intends to use the newly raised capital to strengthen its retail footprint in its existing markets and expand into Chandigarh and Bhubaneshwar.This development follows a previous pre-Series A funding round of $3.3-M raised by the firm in April last year, also led by V3 Ventures. The company counts Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and Jito Incubation and Innovation Foundation among its backers.