New Delhi, February 10 Ethera, a laboratory-grown diamond jewelry brand, announced on Tuesday that it had raised ₹25 crore from Bluestone in a funding round that will support the company's retail expansion.
The Bengaluru-based startup, founded in 2024 by Nitesh Jain and Sharad Arora, operates five retail stores in Bengaluru and Delhi and plans to open additional locations in the coming weeks, the company said in a statement.
"BlueStone's strategic backing strengthens our ability to expand our retail presence, deepen our supply-chain capabilities, and build the operational backbone needed for future growth," co-founder Arora said in a statement.
India's lab-grown diamond jewelry market represents an estimated USD 500 million revenue opportunity and is growing at 35-40 per cent year-on-year, Ethera said.
The segment is expected to capture a larger share of the overall diamond jewelry market by 2030 as consumers increasingly seek ethical and transparent luxury options.
Ethera offers jewelry, including earrings, bracelets, solitaires, pendants, and necklaces made with IGI-certified lab-grown diamonds and BIS-hallmarked gold. The brand launches over 200 new designs monthly.
"This capital enables us to expand our retail reach while continuing to invest in systems that deliver consistency and trust at every touchpoint," co-founder Jain said.
The funding will be primarily used for physical retail expansion, strengthening technology infrastructure and brand awareness, the company said.
Bluestone, which previously invested in Ethera, has now doubled its investment in the brand.