As consumer preferences shift towards affordable, sustainable alternatives to natural diamonds, lab-grown diamond (LGD) startups in India are rapidly gaining traction in the jewelry market.
Rising Investor Interest in LGD Startups
Despite market volatility and price fluctuations, investor confidence in LGD startups has surged. According to Tracxn, India currently has 77 active LGD startups, with 13 of them securing funding, raising a total of $24.6 million to date.
Lisa Mukhedkar, founder and CEO of Aukera Jewellery, highlights the massive growth potential for LGDs in India, citing the U.S. market as an example:
“In a short period of time, more than 50% of diamonds sold in the U.S. are now lab-grown.”
Growing Demand Among Young, Price-Conscious Consumers
LGDs appeal to younger buyers seeking affordable luxury without compromising on aesthetics or quality.
Startups are rapidly expanding to cater to this demand, with new brands emerging each year.
With increasing acceptance, LGDs are carving a permanent niche within India’s jewelry industry.
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