Palmonas, a leading demi-fine jewellery brand in India, has raised ₹55 crore in Series A funding from Vertex Ventures SEA & India to expand its operations and redefine everyday luxury jewellery.

Target Information

Palmonas, a prominent demi-fine jewellery brand in India, recently secured ₹55 crore in a Series A funding round led by Vertex Ventures SEA & India. Established in 2022 by co-founders Shraddha Kapoor, Amol Patwari, and CEO Pallavi Mohadikar, the brand specializes in creating design-led, high-quality jewellery that resonates with modern consumers' daily lives. With a mission to bridge the gap between fast fashion and fine jewellery, Palmonas offers waterproof and skin-safe pieces that exemplify fine craftsmanship and practicality. The brand has rapidly gained popularity, having fulfilled over 6.5 lakh orders and built a loyal customer base.

Industry Overview in India

The demi-fine jewellery market in India is burgeoning, reflecting a shift in consumer preferences towards affordable luxury. As urbanization and disposable incomes rise, more consumers seek jewellery that merges quality with style for everyday wear. The growing influence of digital commerce has also spurred this trend, allowing brands like Palmonas to reach customers directly and efficiently.

Moreover, the Indian jewellery sector has traditionally been dominated by fine and costume jewellery, presenting a unique opportunity for brands that enter the demi-f