LGDTRADE’s Post

Funds flowing in the #labgrowndiamonds retail space in India. Is it a sign of growing demand or FOMO for investors? So, here's the news: Lab-grown jewellery brand Aukera has raised Rs 26.7 crore (approximately $3.2 million) in its Series A round led by Fireside Ventures. While it's a good sign for the industry as a whole, especially when institutional investors believe in the category... We would still loop back to the same question that we asked yesterday: - Where do we see the LGD industry 10 years down the line? Who is setting the vision for the industry? Currently, there are a handful of jewelry brands in India with investor backing that are doing fine. But nothing disruptive. With this funding, Aukera joins the list. But currently, none of the LGD startups in India look disruptive. They don't look like they are focused on building the category or have an apparent long-term vision. Or maybe it's something we are not seeing. Like Zulu Ghevriya had pointed out in the 2nd Lab Grown Diamonds Magazine rountable that the bigger onus of building the category is on the GROWERS. They have deeper pockets. But seem to be lacking the long-term vision. With everyone working in their own silos, it's still unclear how the industry will come together to build the market in India which still largely piggybacks on lower than natural pricing, money-back, and safer for planet sales pitches. So, with this recent funding round... Are we just going to see another startup in India working in its silo? We really hope not. We hope Aukera does not just continue to grow as a brand, but plays a pivotal role in shaping the Lab Grown Diamonds market in India. Common guys, let's start talking about possibilities and unique designs - something that can only be done with LGDs. It's time to up the game. For more updates from the world of Lab Grown Diamonds, follow Sandhya Valecha and Karan Dharamsi. #labgrowndiamonds #labgrowndiamond #diamonds #diamond #jewellery #jewelry #funding #Startup