Lab-grown jewellery brand Aukera has secured Rs 26.7 crore (approximately $3.2 million) in a Series A funding round, with Fireside Ventures leading the investment. This marks the first institutional investment for the year-old omnichannel company, which specializes in diamonds.
According to regulatory filings from the Registrar of Companies (RoC), Aukera issued 10 equity shares and 8,155 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 32,713 each to raise the mentioned capital. Fireside Ventures contributed Rs 23.75 crore, with Sparrow Capital and Eternal Emerging Enterprises adding Rs 1.39 crore and Rs 1.57 crore, respectively.
The funds will be allocated for business expansion and general corporate purposes, as determined by Aukera’s board. The round may continue to attract additional capital.
Post-funding, Fireside Ventures will hold a 19.20% stake in Aukera, while Sparrow Capital and Eternal Emerging Enterprises will hold 7.59% and 5.89%, respectively. The company has also expanded its employee stock options pool by adding 1,180 options, bringing the total to 1,896 options.
Founded in 2023, Aukera is a women-centric jewellery brand offering lab-grown diamond pieces in white, rose, yellow gold, and platinum. The company operates its website and has two stores in Bengaluru. Aukera faces competition from other lab-grown diamond firms such as Fiona Diamonds, Limelight Lab Grown Diamonds, Jewelbox, and the Aditya Birla-backed GIVA.
