Lab-grown diamond startup ONYA raises $1.3M pre-series A to open new stores
What's the deal? Lab-grown diamond jewellery startup ONYADealroom has a profile for this one. Try Dealroom → has raised US$1.7M in a pre-series A round led by Divisa Family Office, with participation from existing investor ZeropearlDealroom has a profile for this one. Try Dealroom → VC. Founded by Himani Yadav and Gaurav Choudhary, the company has opened eight flagship stores across Bengaluru, Pune, and Hyderabad within 20 months of launch.
Where's the money going? ONYA plans to open more stores — initially in Pune and Hyderabad — through a mix of company-owned and franchise outlets. It will also expand its online presence, build out personalisation, and invest in research and development around jewellery design and manufacturing.
What's the endgame? The startup is positioning around design rather than competing on price alone. Its portfolio includes the ONYA Signature Collection, inspired by Neoclassical architecture, and a patented in-house ring setting built to optimise light reflection.
Why now? The round is a clear step up from ONYA's US$746.9K seed round, which drew angel backing from the founders of MyGateDealroom has a profile for this one. Try Dealroom → and UrbanVaultDealroom has a profile for this one. Try Dealroom →. Yadav said she started the company after struggling to find affordable, well-designed engagement rings.
ONYA offers IGI-certified VVS EF lab-grown diamonds set in BIS-hallmarked gold, with a lifetime exchange and an 80% buyback guarantee. “ONYA was born from the belief that fine jewellery shouldn't be locked away in safes for rare occasions,” Yadav said, adding that it “should be lived in, cherished, and worn every day.”
The signal: Lab-grown diamonds are shifting the jewellery market from price-driven substitution toward design-led brands. ONYA's rapid store rollout — and its move to deepen its footprint in Pune and Hyderabad — reflects growing investor appetite for the category in India.
Read more: entrepreneur.economictimes.indiatimes.com
Image credit: Generated with Gemini
