Shraddha Kapoor-backed Palmonas, the Shark Tank India-featured demi-fine jewellery brand, has raised ₹55 crore in a Series A round led by Vertex Ventures SEA & India (SEAI). Founded in 2022 by Shraddha Kapoor, Amol Patwari, and Pallavi Mohadikar, the Pune-based startup is building a design-led jewellery brand that blends fine craftsmanship with everyday practicality.
What Makes Palmonas Stand Out
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Focus on demi-fine jewellery bridging fast fashion and fine jewellery
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Waterproof and skin-safe designs crafted for daily wear
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6.5 lakh+ orders fulfilled within three years of launch
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Positioned as a lifestyle brand rather than just an accessory line
Funding Details
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Round: ₹55 crore Series A
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Lead Investor: Vertex Ventures SEA & India
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Previous Valuation: ₹126 crore (Feb 2025) after raising ₹1.26 crore from Namita Thapar and Ritesh Agarwal on Shark Tank India Season 4
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Angel Round: Earlier raised ₹6 crore
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Co-founder Update: In March 2024, Shraddha Kapoor officially joined the founding team
Growth Roadmap with Fresh Capital
Palmonas will use the funding to:
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Expand its signature 9kt gold demi-fine jewellery collection
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Open 100 new stores across India in the next 12 months
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Strengthen best-selling categories
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Enhance the omnichannel shopping experience
What the Founders and Investors Say
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Shraddha Kapoor (Co-founder):
“Jewellery should feel like a second skin—beautiful, effortless, and part of everyday life. This investment helps us take that belief across India and globally.” -
Pallavi Mohadikar (CEO & Co-founder):
“From launching our first collection in 10 days to fulfilling lakhs of orders, customer obsession drives us. This funding will fuel faster expansion, bolder designs, and innovation.” -
Kanika Mayar (Partner, Vertex Ventures SEA & India):
“Palmonas is redefining jewellery for modern Indian consumers. We’re excited to support their vision as they scale nationally and enter global markets.”
Why This Matters for the Startup Ecosystem
Palmonas is an example of how consumer brands in India are moving beyond traditional categories, creating lifestyle-driven businesses backed by strong design and execution. Its rapid growth demonstrates how Shark Tank India exposure and VC support can accelerate scale for consumer-first startups.
💡 At Innovent Blog, we cover India’s most exciting startups, funding news, and ecosystem insights. Palmonas’ journey showcases the growing potential of lifestyle-driven ventures making global ambitions a reality.