India’s fine jewellery market is getting a modern, sustainable makeover—and at the heart of it is Lucira, a design-first jewellery brand that’s betting big on lab-grown diamonds and
India’s fine jewellery market is getting a modern, sustainable makeover—and at the heart of it is Lucira, a design-first jewellery brand that’s betting big on lab-grown diamonds and recycled gold. The startup has just raised $5.5 million in its maiden seed funding round, led by Blume Ventures with participation from Spring Marketing Capital, SiriusOne Capital Fund, and a group of prominent angel investors.
Among the angels are founders of some of India’s most successful consumer brands, including Dot and Key, Livspace, Snitch, and Bewakoof.com. Their backing signals confidence not just in Lucira’s product line, but also in its potential to reshape how Indians experience fine jewellery.
Lucira was founded in May 2025 by Rupesh Jain and Vandana Jain, entrepreneurs with a strong understanding of India’s jewellery market. Rupesh previously built Candere, an online fine jewellery platform that achieved a successful exit, giving him deep experience in scaling a consumer-first brand.
With Lucira, the duo is aiming higher—building a sustainable, design-led jewellery house that speaks to the aspirations of today’s consumers. The brand has already created a catalogue of nearly 1,000 customisable designs, certified by IGI, GIA, SGL, and BIS, ensuring international quality benchmarks and trust.
Every piece comes with lifetime exchange and buyback guarantees, adding financial security to the luxury purchase—a factor that matters deeply in the Indian context.
Unlike traditional jewellery players who position ornaments primarily as an investment, Lucira is reimagining jewellery as an expression of individuality, design, and sustainability.
Here’s what makes Lucira unique:
This blend of luxury and responsibility makes Lucira more than a jewellery brand—it’s a statement for modern, value-driven consumers.
With its $5.5 million seed funding, Lucira is gearing up for a big leap. Its first retail store will open in Mumbai this month, marking the brand’s entry into offline retail. But that’s just the start.
By FY26, Lucira plans to launch four additional stores in key Indian cities, supported by an omnichannel approach that integrates offline and online shopping seamlessly. The company is targeting 80% of revenue from offline stores, while keeping its digital presence strong to capture tech-savvy shoppers.
Beyond retail expansion, Lucira will use the funds to:
One of the biggest shifts driving Lucira’s strategy is the way Indian consumers are evolving in their perception of jewellery.
“Indian consumers are moving beyond viewing jewelry purely as an investment. They are seeking design, authenticity, and a brand they can emotionally connect with,” says co-founder Rupesh Jain.
This shift is most visible among millennials and Gen Z buyers, who are increasingly looking at jewellery the way global consumers view luxury fashion—something to enjoy, flaunt, and identify with, rather than only a long-term financial hedge.
Lucira’s mix of contemporary aesthetics, sustainability, and transparency directly appeals to this new mindset.
Blume Ventures’ Managing Partner Karthik Reddy highlighted Lucira’s strong foundation and vision as a key reason for investment. He pointed out that Rupesh Jain has already demonstrated success in the category with Candere’s exit, and Lucira now represents the next evolution of his journey.
“What excites us most is Lucira’s omnichannel vision—seamlessly blending design leadership with retail expansion. The opportunity to create India’s first truly modern fine jewellery brand is massive,” Reddy noted.
For investors, Lucira ticks several high-growth boxes: a large but evolving market, a sustainability-driven product, an experienced founding team, and a clear expansion strategy.
India’s fine jewellery industry is worth billions, but it has traditionally been dominated by legacy players focusing on heritage designs and investment-grade gold. In contrast, Lucira is part of a new wave of brands bringing global sensibilities to Indian consumers—design-first, customer-centric, and sustainability-focused.
The timing couldn’t be better. Rising disposable incomes, changing attitudes toward luxury, and growing acceptance of lab-grown diamonds are creating fertile ground for a brand like Lucira to thrive.
Lucira’s journey is just beginning. With a strong funding round, experienced leadership, and a differentiated brand identity, it has the potential to build India’s first design-led fine jewellery house that resonates with modern consumers while still respecting traditional values of trust and quality.
As it expands its retail presence, strengthens its omnichannel backbone, and deepens consumer trust, Lucira could well become the face of India’s jewellery 2.0 movement—where sustainability, design, and luxury walk hand in hand.
For consumers, that means jewellery that’s not just an asset in a locker, but an everyday expression of who they are.
