Lab-grown diamond jewellery brand Limelight Diamonds has raised ₹275 crore in a strategic funding round led by its core promoters, the Bhathwari Group, with participation from key strategic partners in the jewellery industry as well as several of Limelight’s own franchise partners. The capital was raised through a mix of equity and cash consideration and will go toward strengthening vertical integration, expanding manufacturing infrastructure, enhancing design capabilities, and accelerating retail expansion. BSC Advisors served as the financial advisor on the deal.
The round lands as India’s jewellery retail sector continues shifting toward organised, branded players even as lab-grown diamonds carve out a distinct price-conscious segment alongside traditional mined-diamond jewellery. Limelight has built its position squarely in that gap, betting that consumers increasingly want the look of diamond jewellery without the price tag or sourcing questions that come with mined stones.
Founded in 2019 by Pooja Madhavan, Limelight Diamonds specialises in pure CVD lab-grown diamonds and has scaled to more than 75 exclusive brand outlets spread across upwards of 45 cities, a retail footprint the company says is the widest of any lab-grown diamond jewellery player in India. That expansion has largely been funded through the promoter-led structure now extending into this latest round, rather than through institutional venture capital, an approach that has let the founders retain tighter control over pace and positioning as the category matures.
“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,” said Pooja Madhavan, Founder & MD of Limelight Diamonds, in a statement
With the fresh capital, Limelight is targeting 100 new stores through 2026 alone, before scaling to 200 stores by 2027 across metro, Tier I, and Tier II markets. That pace, roughly doubling the current outlet count within 18 months, marks a sharper acceleration than the brand’s organic growth since 2019, and signals promoters are treating retail density, not just manufacturing scale, as the primary lever for capturing share in a lab-grown category still being defined by whoever builds distribution fastest.
In November 2025, Limelight Diamonds roped in Bollywood actor and entrepreneur Shilpa Shetty as the brand ambassador and strategic investor.
