Jewelbox Secures Rs 3.5 Crore Led by JIIF and Others
Within 99 words: Kolkata-based jewellery company Jewelbox, founded in 2022 by Nipun Kochar and Vidita Kochar, raises Rs 3.5 crore in funding. The round, led by JITO Incubation and Innovation Foundation (JIIF), sees an investment of Rs 2.97 crore, with contributions from friends and family. Jewelbox specializes in crafting exquisite jewellery with lab-grown diamonds, offering sustainable luxury. The funding will fuel team expansion and the opening of new retail stores. Rajat Mehta, Chairman of JIIF, praises Jewelbox's commitment to quality and sustainability, foreseeing remarkable industry growth. The demand for lab-grown diamonds is anticipated to rise, reaching 160 million carats by 2030, per Teji Mandi's research.
Key Points:
- Kolkata-based Jewelbox raises Rs 3.5 crore in funding led by JIIF.
- Founded in 2022, the company specializes in crafting jewellery with lab-grown diamonds.
- Funding round includes Rs 2.97 crore investment from JIIF and contributions from friends and family.
- Funds will support team expansion and opening of new retail stores.
- Jewelbox's focus on quality and sustainability resonates with conscious consumers.
- Rajat Mehta, Chairman of JIIF, praises the company's innovative approach.
- Teji Mandi predicts growing acceptance of lab-grown diamonds, expecting demand to reach 160 million carats by 2030.
- Jewelbox aims to redefine luxury with its commitment to sustainability.
- Founders express excitement for mentorship and growth opportunities.
- Investment reflects confidence in Jewelbox's vision and potential for industry impact.
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