Lab-Grown Diamond Jeweller ONYA Raises ₹12.5 Crore Pre-Series A

Bengaluru lab-grown diamond jewellery startup ONYA has raised ₹12.5 crore in a pre-Series A round led by Divisa Family Office, with existing backer Zeropearl VC doubling down after the company's ₹5.5 crore seed round.

The seed round also drew angel investors including the founders of MyGate and UrbanVault, ONYA said. The fresh capital will fund retail expansion, digital customer acquisition, online personalisation, and research and development across product design and manufacturing.

A Young Brand Moving Fast

Gaurav Choudhary and Himani Yadav founded ONYA in 2024. The company sells IGI-certified lab-grown diamonds set in BIS Hallmarked gold, with an emphasis on personalised jewellery and contemporary design.

ONYA positions its stones against natural diamonds, claiming higher brilliance at roughly 20% of the cost of natural diamonds. The brand backs its products with a lifetime exchange and buyback promise. Its portfolio includes the ONYA Setting, a patented ring setting, and the ONYA Signature Collection, which takes design cues from Neoclassical architecture.

Eight Flagship Stores and Rising Revenue

Since launch, ONYA says it has opened eight flagship stores on major high streets in Bengaluru, plus locations at Amanora Gold Souk Mall in Pune and Road No. 36, Jubilee Hills, Hyderabad. The company has scaled to approximately ₹3.5 crore in monthly recurring revenue, according to the startup.

The new money will bankroll entry into additional markets through company-owned stores and franchise outlets. ONYA is also investing in digital acquisition and online personalisation as it builds an omnichannel customer experience.

Investors Chase India's Lab-Grown Diamond Category

ONYA's fundraise lands amid a sharp uptick in investor activity across India's lab-grown diamond jewellery segment. Nine pure-play lab-grown diamond startups collectively raised $26.4 million in 2025, according to figures cited by the company, up from $4.7 million in 2024.

The deal flow spans a range of players and structures. Aukera raised ₹90 crore in debt funding in July 2026 after a $15 million equity round led by Peak XV Partners. Limelight Lab Grown Diamonds raised ₹275 crore in a strategic round to expand manufacturing and retail operations. GIVA, which operates the lab-grown diamond brand Heer, pulled in ₹530 crore in a Series C round. Other funded companies include Jewelbox, Lucira Jewellery, True Diamond and Fiona Diamonds.

ONYA competes directly with Aukera, Limelight, Jewelbox and Fiona in a market that is attracting capital at an accelerating pace.

The So What

The pre-Series A gives ONYA the balance sheet to widen a physical retail network that remains concentrated in Bengaluru while pressing its edge in proprietary design — the patented ONYA Setting chief among them. Whether a ₹12.5 crore cheque can keep pace with rivals raising sums ten to forty times larger will shape the startup's next chapter as lab-grown diamonds gain traction in India's jewellery market.