Funding will support the introduction of new products, marketing boost and store expansion across India
Surat-based lab-grown diamond and Polki jewellery brand, Ivana Jewels, has raised Rs two crore in seed funding from Avinya Ventures, an early-stage venture capital firm. The funding will be used to introduce new product lines, strengthen marketing activities and expand into new cities. With this investment, the brand is aiming to grow faster, connect with more customers and build a strong retail network across India.
The brand currently operates stores in Noida, Surat, Nagpur, Delhi and Mumbai. It plans to expand into Chandigarh and Ahmedabad, with seven new stores in progress. Ivana is targeting 10 operational outlets before its next funding round and aims to scale further to 12 to 15 stores by the end of FY 2025 to 26. The company is also offering franchise opportunities with an investment of Rs five crore per store.
Founded in 2023, Ivana Jewels is positioning itself at the intersection of sustainability and luxury through its lab-grown diamonds and timeless Polki designs. The company expects to grow its revenue 4 to 5 times in FY 2024–25, targeting Rs 14 crore, and has a team of 35–40 employees focused on product innovation and customer experience.
“This funding is a big step forward for Ivana Jewels and a strong validation of our journey so far,” said Ayushi Jindal, Co-founder. “We are focusing on lab-grown diamonds in the one to two carat range, as well as larger stones of five, 10 and 20 carats, while also expanding our Polki jewellery collections. With this support, we aim to bring fresh designs, reach more cities, and make sustainable luxury accessible to more consumers across India.”
Ivana is also enhancing its digital platform to improve the user interface, simplify the buying experience, and increase product customisation options. The brand is witnessing strong traction in tier two and three cities, where awareness about lab-grown diamonds is rising.
“The lab-grown diamond jewellery market is growing quickly, especially in emerging urban centres,” said Gaurav VK Singhvi, Co-founder, Avinya Ventures. “Consumers are now looking for sustainable, affordable alternatives to traditional diamonds. Ivana’s focus on quality, customisation and transparency makes them stand out. We’re excited to back their vision and help scale their presence across the country.”
Ivana Jewels combines modern craftsmanship with classic design, offering a curated selection of jewellery that blends sustainability with elegance. Backed by the Jindal Group’s legacy, the brand is building a loyal customer base through personalised service, transparent pricing and fine-quality products.
