IVANA Jewels Secures Rs 2 Crore Funding to Expand Across India

IVANA Jewels, a Surat-based lab-grown diamond brand, has secured Rs 2 crore in seed funding from Avinya Ventures. The company aims to boost revenues to Rs 60 crore by FY26 by expanding both online and offline presence, with plans to open more stores and enhance online customisation services.

IVANA Jewels, the Surat-based lab-grown diamond and Polki jewellery brand, has successfully raised Rs 2 crore in seed funding from Avinya Ventures. The capital will be used to introduce new product lines, strengthen marketing activities, and expedite store expansion throughout India.

With aspirations to reach a revenue of Rs 60 crore by FY26, the Jindal group firm plans to significantly enhance its revenue, aiming for more than four times its anticipated earnings for FY25 of Rs 14 crore. This ambitious growth will be driven by a mix of offline and online expansion, with a strategy to open 12-15 stores by the end of this fiscal year.

The company emphasizes capital-efficient scaling and a broader market reach, particularly targeting tier 1, 2, and 3 cities where access to lab-grown diamond jewelry remains sparse. Currently, with stores in Noida, Surat, Nagpur, Delhi, and Mumbai, IVANA Jewels is also looking to establish new outlets in Chandigarh and Ahmedabad, alongside bolstering its online business.

Amid these developments, the brand is focusing on expanding its product range, enhancing customisation capabilities, and adding personalized services to boost online conversions. Notably, channels like Instagram and the company's website are currently responsible for nearly 60% of total sales. Co-founder Ayushi Jindal expressed excitement over the growth plans, noting the company's strong product innovations and well-executed omnichannel strategy. Discussions for additional funding are underway as the brand works towards its ambitious Rs 60 crore revenue target by March 2026.

(With inputs from agencies.)