Pune, August 22, 2025 — Palmonas, the breakout demi-fine jewelry brand that’s transforming how Indians think about everyday luxury, today announced it has closed ₹55 crore in Series A funding led by Vertex Ventures Southeast Asia & India.
The investment comes as Palmonas continues its meteoric rise, having fulfilled over 6.5 lakh orders since launching in 2022 while creating an entirely new category in the Indian jewelry market. The funding will accelerate the brand’s aggressive expansion plans, including opening 100 new stores over the next year and strengthening its signature 9kt gold collections.
Solving the Everyday Luxury Problem
Traditional Indian jewelry has always meant one of two extremes: expensive pieces locked away for special occasions, or cheap fashion jewelry that turns your skin green. Palmonas founders Shraddha Kapoor, Dr. Amol Patwari, and Pallavi Mohadikar saw a massive gap in the middle—and moved with lightning speed to fill it.
“Ten days after the idea of Palmonas was born, we launched our first collection,” said Pallavi Mohadikar, CEO & Co-founder. “That same spirit of speed, ambition, and customer obsession drives everything we do today.”
The result is a new category: demi-fine jewelry that’s waterproof, skin-safe, and designed to be worn every day. By using 9kt gold and innovative craftsmanship, Palmonas delivers the look and feel of fine jewelry at a fraction of the cost—without the quality compromises of fast fashion alternatives.
“Jewelry should feel like a second skin—beautiful, effortless, and part of your everyday life,” explained Shraddha Kapoor, Co-founder. “We’re proving that luxury doesn’t have to be locked away for special occasions.”
From Shark Tank to Market Leadership
The brand’s rapid trajectory caught national attention when founders appeared on Shark Tank India Season 4 in February 2025, securing investments from Namita Thapar and Ritesh Agarwal at a ₹126 crore valuation. But the real validation has come from customers—with strong repeat purchase rates driving consistent growth across all channels.
“Palmonas is redefining what jewelry means for the modern Indian consumer,” said Kanika Mayar, Partner at Vertex Ventures SEA & India. “The founders have demonstrated exceptional execution across brand building, design innovation, and product development. We’re excited to support them as they scale nationally and expand globally.”
Building the Next Generation of Jewelry Retail
With the new capital, Palmonas plans to revolutionize the jewelry shopping experience through immersive brand touchpoints designed to convert first-time browsers into loyal customers. The 100-store expansion will focus on key metropolitan and tier-2 markets, while the brand doubles down on its best-selling categories and expands its 9kt gold offering.
The strategy builds on proven success: Palmonas has already established itself as a category-defining brand with a growing community of repeat customers who view their pieces as daily essentials rather than occasional accessories.
What’s Next
As Palmonas scales from startup to national brand, the company remains focused on its founding mission: making beautiful, well-crafted jewelry accessible for everyday wear. The Series A funding, combined with earlier investments including a ₹6 crore angel round, positions the brand to capture the massive opportunity in India’s evolving jewelry market while exploring international expansion.
For a generation that values both quality and accessibility, Palmonas is proving that luxury jewelry doesn’t have to be a special-occasion splurge—it can be an everyday essential.
About Palmonas Founded in 2022, Palmonas is India’s leading demi-fine jewelry brand, creating waterproof, skin-safe pieces that blend fine craftsmanship with everyday wearability. With over 6.5 lakh orders fulfilled and backed by Vertex Ventures SEA & India, Namita Thapar, and Ritesh Agarwal, Palmonas is expanding rapidly across India while redefining accessible luxury for modern consumers.
