Lab-Grown Jewellery Brand Aukera Jewellery Secures INR 26.7 Cr Funding Led by Fireside Ventures The Bengaluru-based startup aims to deploy the raised funds for its expansion and general corporate purposes.
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Lab-grown jewellery brand Aukera Jewellery has announced the raising of INR 26.7 crore (around USD 3.2 million) in a Series A funding round, marking its first institutional investment since its founding a year ago.
The investment round was led by Fireside Ventures, which contributed INR 23.75 crore. Sparrow Capital and Eternal Emerging Enterprises also participated, investing INR 1.39 crore and INR 1.57 crore, respectively.
Aukera's board has passed the issuance of 10 equity shares and 8,155 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 32,713 each, according to the Entrackr media reports.
The newly acquired funds will be used for the company's expansion and general corporate purposes.
Following this investment, Fireside Ventures now holds a 19.20% stake in Aukera, while Sparrow Capital and Eternal Emerging Enterprises hold 7.59% and 5.89%, respectively.
In addition to the financial boost, Aukera has expanded its Employee Stock Option Plan (ESOP) by adding 1,180 options to the existing 1,896 options, valued at INR 6.20 crore. This move underscores the company's commitment to its team and its belief in collective success.
Founded in 2023, Aukera is a women-centric jewellery brand specialising in lab-grown diamond jewellery in white, rose, yellow gold, and platinum. The brand operates through its website and two physical stores in Bengaluru, reflecting its growing presence in the market.
