Funding Alert

Palmonas Secures ₹55 Cr Series A Funding Led by Vertex Ventures SEAI to Scale Demi-Fine Jewellery Category in India

• ByStartupStory     |    August 26, 2025

Palmonas, the fast-growing demi-fine jewellery brand, has raised ₹55 crore in a Series A funding round led by Vertex Ventures Southeast Asia & India (SEAI). The company plans to use the fresh capital to grow its 9kt gold demi-fine collection, open 100 new stores across India in the next year, and expand its top-selling jewellery categories.

Launched in 2022 by Shraddha Kapoor (Co-founder), Amol Patwari (Co-founder), and Pallavi Mohadikar (CEO & Co-founder), Palmonas has positioned itself as a pioneer in the demi-fine jewellery category, offering products that bridge the gap between fast fashion and fine jewellery. Palmonas jewellery is designed to be skin-safe, waterproof, and high-quality–making it accessible for everyday wear.

Since inception, the brand has scaled rapidly, fulfilling more than 6.5 lakh customer orders and successfully carving a niche in the competitive Indian jewellery space.

Founders’ Vision

“Jewellery should feel like a second skin, beautiful, effortless, and part of your daily life. Palmonas was born from the belief that jewellery should be part of your everyday story and not locked away for special occasions. This investment means we can take that belief to every corner of India, and eventually, the world,” said Shraddha Kapoor, Co-founder.

“With this capital, we’re ready to expand faster, design bolder, and bring Palmonas into the everyday lives of millions. Our customers have shaped Palmonas into what it is today— they told us what they wanted, and we built it. This funding will allow us to double down on that promise: more innovation, more designs, and a seamless shopping experience across every touchpoint,” added Pallavi Mohadikar, CEO & Co-founder.

Investors’ Backing

Commenting on the investment, Kanika Mayar, Partner at Vertex Ventures SEA & India, said:
“Palmonas is redefining what jewellery means for the modern Indian consumer. The founders have demonstrated incredible execution on the brand, the designs, and the products. We’re excited to support their journey as they scale nationally and take their category-defining products to global markets.”

Previous Funding Journey

Palmonas had previously raised ₹1.26 crore in February 2025 on Shark Tank India Season 4, where Namita Thapar and Ritesh Agarwal came on board as investors. This round valued the company at ₹126 crore. Before that, the startup had also secured ₹6 crore in angel funding. In March 2024, Shraddha Kapoor officially joined the leadership team as Co-founder, strengthening both the brand’s creative vision and celebrity-driven market appeal.

The Road Ahead

With the fresh Series A funding, Palmonas is targeting aggressive retail expansion and innovation. The company is eyeing:

• 100 new offline stores across India within a year

• Strengthening its signature demi-fine 9kt gold collections

• Enhanced category diversification and product design

• National brand-building campaigns to make demi-fine jewellery a household name in India

As consumer demand grows for premium yet accessible jewellery, Palmonas is well-positioned to lead the demi-fine movement in India and beyond.

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