Mumbai: Limelight Lab Grown Diamonds has announced a ₹275 crore funding round to strengthen its manufacturing ecosystem and accelerate its retail expansion across India.
The investment, comprising equity and strategic capital, has been backed by the Bhathwari Group, along with the company's franchise partners and industry stakeholders. The latest fundraise marks a significant milestone for the Mumbai-based lab-grown diamond jewellery brand as it prepares for its next phase of growth.
The capital infusion comes at a time when the global diamond industry is undergoing structural transformation. While natural diamond supply continues to face production adjustments and price volatility, consumer acceptance of lab-grown diamonds (LGDs) has accelerated, creating new opportunities across the jewellery retail sector.
India has emerged as one of the world's leading manufacturing hubs for lab-grown diamonds, supported by its well-established diamond processing ecosystem, advanced manufacturing capabilities and growing domestic demand.
Founded in 2019 by Pooja Madhavan, Limelight Lab Grown Diamonds specialises exclusively in jewellery crafted with Type IIa CVD lab-grown diamonds. The company operates a vertically integrated "rocks-to-retail" business model, leveraging the Bhathwari Group's expertise in diamond manufacturing to maintain greater control over sourcing, production and retail.
The newly raised capital will primarily be used to strengthen the company's backward integration by expanding its manufacturing infrastructure, enhancing design capabilities and increasing production capacity.
A significant portion of the investment will also support Limelight's ambitious retail expansion strategy.
The brand currently operates more than 75 exclusive stores across 45 Indian cities and plans to open 100 additional outlets, targeting a nationwide network of 200 stores by 2027 through a combination of company-owned and franchise-operated locations.
Commenting on the development, Pooja Madhavan, Founder and Managing Director, Limelight Lab Grown Diamonds, said, “This investment reflects the confidence our partners have in Limelight and the future of India's lab-grown diamond industry. We see a tremendous opportunity for India to lead the global market. These funds will help us scale our manufacturing, expand our retail footprint, and continue building a globally recognized sustainable luxury brand.”
The funding reflects growing investor confidence in India's lab-grown diamond sector, where brands are increasingly investing in manufacturing integration, omnichannel retail and consumer education.
As demand continues to rise for sustainable and affordable diamond jewellery, companies with integrated manufacturing and retail capabilities are expected to play a leading role in shaping the next phase of the industry.
For Limelight, the latest investment not only strengthens its manufacturing foundation but also positions the brand to capitalise on India's emergence as a global centre for lab-grown diamond production and retail innovation.
