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Lab-grown diamond jewellery brand Limelight Diamonds has raised INR 275 crore in a strategic funding round led by its core promoters, the Bhathwari Group, along with participation from key strategic partners in the jewellery industry. The round also witnessed significant investment from several of the company's franchise partners, underscoring their confidence in Limelight's long-term growth strategy, business fundamentals, and expansion plans.
The fresh capital, raised through a combination of equity and cash consideration, will be deployed to strengthen the company's vertical integration, expand its manufacturing infrastructure, enhance design and product innovation capabilities, and accelerate the rollout of retail stores across India.
The fundraise comes at a time when India's focus on building domestic manufacturing capabilities under the Hon'ble Prime Minister's "Make in India" initiative continues to gain momentum. Limelight believes the lab-grown diamond industry is well positioned to emerge as a globally competitive luxury segment, supported by India's advanced manufacturing ecosystem, skilled craftsmanship, and rising consumer acceptance. The company sees the category as a significant opportunity to bolster the country's manufacturing and export ambitions while reducing reliance on imports.
Commenting on the milestone, Pooja Madhavan, Founder & MD, said: "This funding round is a strong validation of Limelight's vision and the growing potential of the lab grown diamond industry in India. At a time when Hon'ble Prime Minister's 'Make in India' vision is driving focus towards domestic manufacturing and global competitiveness, we believe lab grown diamonds present a significant opportunity for India to lead a new-age luxury category globally. This investment will help us strengthen Indian manufacturing, accelerate retail expansion, and build a world-class brand from India for the world."
Alongside the fundraise, Limelight Diamonds has reaffirmed its ambitious retail expansion strategy, with plans to deepen its presence across metro cities, Tier I locations, and emerging Tier II markets. The company intends to expand its national footprint through a mix of company-owned and franchise-operated outlets, targeting the addition of 100 stores in 2026 and scaling up to 200 stores by 2027.
The expansion comes amid accelerating global demand for lab-grown diamonds, fuelled by shifting consumer preferences towards affordable luxury, growing sustainability awareness, and rising adoption among younger buyers.
Backed by an expanding retail network, vertically integrated operations, and fresh capital, Limelight Diamonds is aiming to strengthen its position in India's fast-growing lab-grown diamond jewellery market. The company was advised by BSC Advisors, which acted as the financial advisor for the strategic fundraising transaction.
