Palmonas, co-founded by Shraddha Kapoor, is set to raise ₹200–250 crore from Xponentia Capital, valuing it at ₹1,600–1,800 crore. Founded in 2022, it runs at a ₹300 crore annual revenue rate after earlier funding from Vertex Ventures. The funds will expand stores, D2C operations, and supply chains for its 18K gold-plated demi-fine jewelry, meeting India’s growing affordable luxury demand.
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By Kalyan Kumar
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