Lab grown jewellery brand Aukera receives $3.2 M investment from Fireside
With the help of Fireside Ventures, the lab-grown jewelry company Aukera has raised Rs 26.7 crore, or roughly $3.2 million, in its Series A round. For an omnichannel brand that has been around for a year and primarily deals in diamonds, this is the first institutional investment.
According to Aukera Jewellery’s regulatory filing, which was obtained from the Registrar of Companies (RoC), the board approved a special resolution to issue 10, equity and 8,155 Series A CCPS at an issue price of Rs 32,713 apiece in order to raise Rs 26.7 crore.
With Rs 23.75 crore, Fireside Ventures led the Series A round. Participating with Rs 1.39 crore and Rs 1.57 crore, respectively, were Sparrow Capital and Eternal Emerging Enterprises.
According to the filing, the board has authorized the company to use these funds for general corporate purposes and expansion. According to media estimates, the company’s post-allotment valuation is approximately Rs 124 crore, or $15 million.
It appears that this round is still going strong and could raise additional funds.
Fireside Ventures now owns a substantial 19.20% of the business after the new funding, while Sparrow Capital and Eternal Enterprises will control 7.59% and 5.89% of Aukera Jewellery, respectively.
The company added 1,180 new employee stock options to its pool as a result of the fundraiser. There are 1,896 options in its entire ESOP pool as of right now. The media estimates Aukera’s total ESOP pool to be worth Rs 6.20 crore.
Aukera is a women-focused jewelry brand that was founded in 2023 and offers lab-grown diamond jewelry in platinum, white, rose, and yellow gold. It has two stores in Bengaluru and sells its goods online.
The Bengaluru-based company faces competition from several companies, such as Jewelbox, Fiona Diamonds, and Limelight Lab Grown Diamonds. The Aditya Birla-backed GIVA brand also sells jewelry made with lab-grown diamonds.
