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Ethera, a Bengaluru-based lab-grown diamond jewellery startup, has raised ₹25 crore in fresh funding from jewellery retailer BlueStone as it gears up to broaden its retail footprint and accelerate growth across India’s jewellery market.
Founded in 2024 by Nitesh Jain and Sharad Arora, Ethera operates as a design-first contemporary jewellery label focused on everyday wear. The brand currently runs five physical stores across Bengaluru and New Delhi, complementing its strong online presence that serves customers nationwide.
Strategic Growth Plans
The funding will be primarily used to expand Ethera’s offline retail network, with several new store openings planned in the coming weeks and more locations already in the pipeline. Beyond store expansion, the company also intends to invest in enhancing its in-house design talent, technology systems, and brand awareness initiatives to support sustainable omnichannel growth.
Ethera’s product range includes a wide variety of jewellery crafted with IGI-certified lab-grown diamonds and BIS-hallmarked gold, spanning categories such as earrings, bracelets, pendants, necklaces and solitaires. The brand reportedly launches over 200 new designs each month, backed by robust quality checks to ensure consistency.
Market Momentum and Investor Confidence
The investment underscores growing confidence in India’s lab-grown diamond (LGD) jewellery segment, which is witnessing rapid adoption among younger and ethically conscious consumers. Industry estimates suggest the LGD market in India represents a sizable opportunity — currently valued at around $500 million and growing at an annual rate of approximately 35–40 per cent as demand shifts toward transparent, design-led jewellery options.
Co-founders Arora and Jain have emphasised that BlueStone’s continued support goes beyond capital, strengthening Ethera’s operational capabilities and enabling the brand to build the infrastructure needed for scale while maintaining quality and trust across customer touchpoints.
This latest funding round highlights how emerging jewellery brands are leveraging both digital and retail channels to capture a growing segment of consumers seeking contemporary designs and ethical alternatives to traditionally mined diamonds — signalling a shift in the industry’s dynamics.
