Palmonas, the demi-fine jewellery brand co-founded by actor Shraddha Kapoor, has announced its Series A funding round led by Vertex Ventures.
Founded by Pallavi Mohadikar and Dr. Amol Patwari, with Kapoor as co-founder, Palmonas has pioneered tarnish-free demi-fine jewellery crafted with 18k gold plating on sterling silver and surgical stainless steel. Positioned between high-end luxury and fast fashion, the brand caters to the modern Indian woman seeking everyday elegance.
This marks Palmonas’ first institutional funding. Before this raise, the brand has raised around Rs 7 crore through a mix of angel investors and Shark Tank India where it received backing from Namita Thapar and Ritesh Agarwal.
The Pune-based brand, which already operates 25 stores across metros and tier-2 cities, plans to accelerate its omnichannel journey with 100 new stores across India in the next year. Alongside retail expansion, Palmonas will strengthen its demi-fine gold and lab-grown diamond collections while eyeing international markets.
Since its launch, Palmonas has fulfilled over 6.5 lakh orders and built a strong community of customers who resonate with its promise of ‘everyday luxury’ beyond occasion-driven jewellery. The global demi-fine segment, valued at $5 billion, presents a significant growth opportunity where Palmonas aspires to lead from India.
