India’s Leading Demi-Fine Jewellery Brand Sets Sights on 100 New Stores and Global Expansion
Palmonas, India’s leading demi-fine jewellery brand has raised ₹55 crore in a Series A funding round led by Vertex Ventures SEAI. This strategic investment will fuel Palmonas’ vision to make demi-fine jewellery a household name in India, and take everyday luxury to global markets.
Founded in 2022 by Shraddha Kapoor, Amol Patwari (Co-founders) and Pallavi Mohadikar (CEO & Co-founder), Palmonas is creating design-led, high-quality jewellery that fits seamlessly into the daily lives of modern consumers. Built to bridge the gap between fast fashion and fine jewellery, its waterproof and skin-safe pieces combine fine craftsmanship with everyday practicality. The brand has quickly gained traction, fulfilling over 6.5 lakh orders and building a strong community of repeat customers. With a focus on making jewellery a true everyday essential, Palmonas is redefining what luxury means for a new generation.
The new funding will enable Palmonas to strengthen its signature 9kt gold demi-fine collection, open 100 new stores in the next 12 months, double down on its best-selling categories, and create immersive brand experiences that transform first-time shoppers into lifelong customers, while cementing its position as the go-to destination for everyday luxury jewellery.
“Jewellery should feel like a second skin, beautiful, effortless and part of your everyday life. Palmonas was born from the belief that jewellery should be part of your daily story and not locked away for special occasions. This investment means we can take that belief to every corner of India, and eventually, the world.” said Shraddha Kapoor.
Adding to the statement, Pallavi Mohadikar, CEO & Co-Founder, Palmonas, said, “Ten days after the idea of Palmonas was born, we launched our first collection. That same spirit of speed, ambition, and customer obsession drives us today. With this capital, we’re ready to expand faster, design bolder, and bring Palmonas into the everyday lives of millions. Our customers have shaped Palmonas into what it is today, they told us what they wanted, and we built it. This funding will allow us to double down on that promise: more innovation, more designs, and a seamless shopping experience across every touchpoint.”
“Palmonas is redefining what jewelry means for the modern Indian consumer. The founders have demonstrated incredible execution on the brand, the designs and the products. We’re excited to support their journey as they scale nationally and take their category-defining products to global markets.” Kanika Mayar, Partner, Vertex Ventures SEA & India.
Since its inception, Palmonas has attracted strong investor backing. In February this year, the brand was valued at ₹126 crore after raising ₹1.26 crore from Namita Thapar and Ritesh Agarwal during Shark Tank India Season 4. Prior to this, it had closed an angel funding round of ₹6 crore. In March 2024, Shraddha Kapoor joined as co-founder, further strengthening the brand’s vision and market presence.
About Palmonas
Palmonas is India’s leading demi-fine jewellery brand, founded in 2022 by Pallavi Mohadikar, Amol Patwari, and Shraddha Kapoor. Known for its waterproof, skin-safe, and design-led pieces, Palmonas pioneered the demi-fine category in India offering luxury-quality jewellery at accessible price points. From its record-speed launch to fulfilling thousands of orders and opening multiple stores nationwide, Palmonas is now on a mission to take India’s everyday luxury global.
About Vertex Ventures Southeast Asia & India
Vertex Ventures Southeast Asia & India is a leading early-stage venture capital firm focused on partnering with high-growth startups across Southeast Asia and India. With a strong network and strategic expertise, they have invested in successful companies such as Grab, FirstCry, Licious, Kuku FM, Pilgrim and Kapiva, driving innovation and scaling businesses across various sectors.
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