Delhi NCR-based lab-grown diamond jewellery brand Zinara has raised Rs 3.61 crore ($380k) in a pre-seed funding round led by Inflection Point Ventures (IPV). The round also saw participation from Nine Jewellery, Bollywood actress Nikita Dutta, and several angel investors.
The company plans to use the fresh funding to build a stronger team, increase its marketing efforts, and improve its supply chain. Zinara will also use the capital to add more products and expand its brand presence across India.
Building Everyday Diamond Jewellery
Founded by Harshit Abrol and Sumanyu Vyas, Zinara focuses on everyday diamond jewellery made with lab-grown diamonds and 18K gold vermeil. The brand currently has more than 400 jewellery designs and has crossed Rs 1 crore in annual recurring revenue (ARR).
The founders bring experience from well-known consumer and technology companies. Harshit Abrol has previously worked with P&G and Apnaklub, while Sumanyu Vyas has worked with Blinkit and Classplus.
Zinara follows a digital-first approach, allowing customers across India to shop for its jewellery online. The company also offers benefits such as a lifetime warranty, buyback and exchange options, giving customers more flexibility when purchasing diamond jewellery.
Growing Demand for Lab-Grown Diamonds
The funding comes at a time when more Indian consumers are looking for affordable, sustainable and modern luxury jewellery. Lab-grown diamonds are becoming an increasingly popular choice as they offer the look and quality of diamonds while giving brands another way to build more accessible jewellery products.
For Zinara, the latest funding will help the company reach more customers, strengthen its operations and build a wider product range as it looks to grow in India’s changing jewellery market.
IPV’s Continued Startup Investments
Inflection Point Ventures has become an active investor in India’s startup ecosystem. According to the company, IPV has invested more than Rs 900 crore across over 280 startups.
With the latest investment, Zinara now has additional capital to scale its team, products and brand across the country as it works to make lab-grown diamond jewellery a bigger part of everyday luxury.
