Limelight Diamonds raises Rs 90 crore to fuel expansion

Lab grown diamond jewellery brand Limelight Lab Grown Diamonds has raised approximately Rs 90 crore in a funding round with participation from broking firms, fund houses, family offices, and promoters. The Mumbai based business plans to use the funds to bolster both its India retail footprint and its designs as well as fuel growth. 

“The investment comes at a perfect time when the LGD sector is seeing a disruptive boom in India and will help us accelerate our growth to reach newer heights,” said Limelight Lab Grown Diamonds’ managing director Pooja Madhavan, the Press Trust of India reported. “We are on a mission to disrupt India’s $80 billion jewellery market by offering consumers the widest choice of designer jewellery at the sweetest price points. We remain focused on making Limelight the largest sustainable luxury jewellery brand from India to the world.”

To strengthen its position in India’s fast growing lab grown diamond market, Limelight Lab Grown Diamonds plans to bolster its operational growth with its new investment. The business has reported rapid growth over the past two years and plans to continue to expand with an omni-channel approach. 

Entrepreneur Pooja Madhavan launched Limelight Lab Grown Diamonds in 2019 and the brand today has over 30 brick-and-mortar stores as well as 30 shop in shops in more than 35 Indian cities. The vertically integrated brand has backing from lab grown diamond producer The Bhathwari Group and jewellery manufacturing business The Emerald Group.