News Summary
Palmonas, the Pune-based demi-fine jewellery label co-founded by Bollywood sensation Shraddha Kapoor, has just secures a jaw-dropping feat ₹55 crore in Series A funding led by Vertex Ventures Southeast Asia & India (SEAI). But pause for a second this isn’t merely another funding announcement to scroll past. No, Palmonas is making a bold declaration: it’s here to redefine Indian jewellery, turning everyday adornments into pieces that feel indulgent without ever being intimidating. With this fresh capital, the brand is poised to revamp its 9kt gold demi-fine collection, launch 100 spanking-new stores across India, and pour energy into its fan-favorite designs.
Since its inception in 2022 by Pallavi Mohadikar and Dr. Amol Patwari, Palmonas has been quietly revolutionizing the space where fine jewellery meets fast-fashion accessibility. When Shraddha Kapoor came onboard as co-founder in 2024, the move was far more than a celebrity endorsement it was a cultural statement. Suddenly, the style-conscious, modern Indian consumer had a brand that felt personal, aspirational, and entirely relatable.
Palmonas isn’t just selling jewellery; it’s shaping a movement. It’s for the woman who wants luxury that doesn’t scream exclusivity, who wants sparkle that feels personal, not performative. And with the new funding, the brand’s reach, ambition, and audacity just got a serious boost.
Over 6.5 lakh orders later, Palmonas is fast becoming a brand name that stands for practical, everyday luxury a sweet spot that traditional jewellery often struggles to hit.
1. Introduction
Palmonas raises Rs 55 crore in funding, a bold signal of how quickly it’s carving a niche in India’s jewellery scene. This Series A round, led by Vertex Ventures SEAI, isn’t just about numbers it’s about ambition: expanding product lines, opening more stores, and staking a claim in the fiercely competitive D2C jewellery space.
With Shraddha Kapoor actively on board, Palmonas doesn’t just rely on celebrity glamour it fuses that star power with design that actually matters. These aren’t pieces you shove in a box until a wedding; they’re built to be worn, noticed, and cherished every single day. The weighty, often intimidating world of traditional fine jewellery is being flipped on its head. For younger Indians, Palmonas says: why wait for an occasion when style can be lived daily? Their creations are practical, contemporary, and unapologetically chic, proving that everyday elegance isn’t a myth it’s a choice.
2. Company Overview
2.1 Founding and Vision
Launched in 2022 by Pallavi Mohadikar and Dr. Amol Patwari, Palmonas began with a simple, yet radical idea: luxury doesn’t have to be impractical. Nestled in the demi-fine segment, the brand strikes a delicate balance luxurious enough to feel special, yet everyday-friendly enough to avoid the “too fancy to touch” trap.
Shraddha Kapoor’s arrival as co-founder in March 2024 was more than a star-studded PR move. Her credibility and vast urban following instantly amplified Palmonas’ reach. For city-dwelling customers craving chic jewellery without breaking the bank, this was a game-changer. The trio has steered Palmonas into a D2C-first brand that’s trend-savvy and unafraid to dream beyond India’s borders.
2.2 Product Portfolio
Palmonas’ demi-fine collection is a marriage of durability and elegance: surgical stainless steel and sterling silver coated with 18k gold vermeil. Think necklaces, rings, bracelets, earrings, even mangalsutras that don’t quit waterproof, skin-safe, and ready for daily wear.
But what truly distinguishes Palmonas isn’t just long-lasting materials or affordable pricing it’s the design sensibility. Modern, thoughtful, versatile. It’s jewellery that feels personal yet aspirational, driving repeat buys and rapid adoption across both online marketplaces and brick-and-mortar stores.
3.Business Model and Revenue Streams
3.1 Direct-to-Consumer (D2C) Strategy
Palmonas thrives on a hybrid D2C approach. Their website remains the anchor of the brand, but Palmonas doesn’t hesitate to tap into e-commerce powerhouses like Amazon and Flipkart. On the ground, sleek outlets in both metros and tier-2 cities offer something digital screens can’t a sensory experience. Shoppers can see the shimmer, feel the texture, and try on pieces before taking them home. That physical connection adds weight to the brand’s presence.
This hybrid strategy is anything but accidental. It hands Palmonas the reins on pricing, puts them closer to real-time consumer behavior, and allows small-batch experiments before rolling out collections on a larger scale. Most traditional jewellery houses, bogged down by legacy practices, can’t match this level of agility. It’s exactly why Palmonas stands out as modern and disruptive in a market that often feels stuck in the past.
3.2 Revenue Performance
In FY 2024, Palmonas clocked operating revenue of ₹5.38 crore, a sharp rise from ₹3.83 crore the year before. Yes, the books still show a net loss of ₹1.24 crore, but that’s par for the course with ambitious D2C brands that are chasing growth rather than quick profits. What matters more is the stickiness the steady repeat purchases from loyal customers. That kind of endorsement suggests Palmonas is carving out a solid niche in India’s fast-growing affordable luxury jewellery segment.
4. Funding Journey
4.1 Seed and Angel Investments
Palmonas’ journey began with angel funding and Shark Tank India Season 4 backing. Notably, investors Namita Thapar and Ritesh Agarwal infused ₹1.26 crore, valuing the startup at ₹126 crore post-money. Prior to that, a ₹6 crore angel round fueled early growth, helping the brand establish operations and test its product-market fit.
4.2 Series A Funding
The recent ₹55 crore Series A round led by Vertex Ventures SEAI is the largest institutional investment in Palmonas to date. Funds are earmarked for retail expansion, product innovation, and international market entry, with a strong focus on the 9kt gold demi-fine collection and lab-grown diamond jewellery.
5. Strategic Expansion Plans
5.1 Retail Expansion
Palmonas is gearing up for an ambitious leap planning to open 100 new stores across India within the next year. This isn’t merely a numbers race it’s a cultural signal. Even in the middle of an online shopping frenzy, people still yearn for the intimacy of in-store jewellery encounters. The sensation of slipping on a ring, feeling the cool weight of metal, or watching light dance across a stone is something no screen can replicate. Palmonas is leaning into that very instinct, wagering that the future of jewellery retail isn’t just digital clicks, but physical moments that spark emotion.
5.2 Product Innovation
Growth, however, isn’t being boxed into storefronts alone. Palmonas is reimagining its collections rolling out bold new designs while anchoring them in sustainable, skin-friendly materials. It’s not a superficial makeover; it’s a response to buyers who demand more than beauty. Today’s customers want adornments that align with their values pieces that carry comfort, safety, and a sense of conscience along with elegance. Palmonas seems to get it: jewellery is no longer just decorative it’s personal storytelling made tangible.
5.3 Global Market Penetration
Palmonas has its eyes set on global horizons: the US, Middle East, and Southeast Asia, where affordable luxury jewellery is rapidly gaining traction. With the global demi-fine jewellery market valued at $5 billion, India-made brands like Palmonas aren’t just participants they’re poised to become leaders. The strategy feels bold yet calculated: affordable, stylish, and globally resonant.
6. Industry Landscape
6.1 Growth of Demi-Fine Jewellery
The Indian demi-fine jewellery market isn’t just on the rise it’s exploding. Today’s shoppers aren’t content with either dirt-cheap accessories or unaffordable luxury. They want that perfect middle ground: jewellery that looks polished and chic but doesn’t burn a hole in their wallet. And honestly, who can blame them?
What’s fascinating is how D2C brands and online shopping have completely flipped old buying patterns. The category now feels less like a niche and more like a gold rush, with new players racing to capture attention. Among them, Palmonas has carved a clever spot. Their designs strike this rare balance affordable enough to wear every day, yet stylish enough to feel like a little luxury treat. It’s exactly what today’s consumers are after: pieces that look aspirational but remain within reach.
6.2 Competitive Landscape
Palmonas competes with notable players like GIVA, BlueStone, CaratLane, Melorra, and Firefly Diamonds. But the brand isn’t just another name in the crowd. Its unique edge lies in:
- Shraddha Kapoor’s celebrity co-founder appeal, blending glamour with brand credibility
- Skin-safe, waterproof jewellery perfect for daily wear
- A focus on everyday elegance, making jewellery approachable
- Seamless online-offline integration, offering convenience without losing experience
7. Founders’ Background
7.1 Shraddha Kapoor
Joining the venture in March 2024, Shraddha Kapoor didn’t just sign on as a face for Palmonas she injected personality and presence into the brand. Her Bollywood reputation, coupled with a massive online following, has pushed the label into the spotlight, making it resonate with style-conscious urban shoppers. The brand’s rise feels less like a marketing ploy and more like a cultural shift: a blend of celebrity magnetism, thoughtfully crafted designs, and consumer-first thinking. Palmonas isn’t simply selling demi-fine jewellery it’s nudging India to see it as an everyday expression of style rather than an occasional luxury.
7.2 Pallavi Mohadikar
CEO and co-founder, driving operations, strategy, and scale-up, Pallavi has been instrumental in retail expansion and product line diversification.
7.3 Dr. Amol Patwari
Co-founder drives the vision behind design excellence and product originality, making sure Palmonas stays synonymous with practical luxury jewellery that resonates with modern tastes.
8. Learning for Startups and Entrepreneurs
Think beyond the obvious; today’s shoppers crave indulgence that feels accessible, not something locked away as a luxury for the few.
• Leverage Influencer Power: Having a celebrity co-founder isn’t just about slapping a famous face on a brand. It instantly boosts trust, sparks buzz, and makes people lean in because they feel the name carries real weight.
• Diversify Funding Sources: Relying on one kind of investor is a gamble no brand should take. The sharpest players blend angels, venture capital, and institutions so growth doesn’t collapse the moment one pipeline dries up.
• Innovate Continuously: Consumer preferences shift faster than most can blink. The winners aren’t those scrambling to react; they’re the ones already experimenting, launching fresh designs, and catching attention before the trend even has a name.
• Balance D2C and Retail: Omnichannel isn’t a nice-to-have anymore it’s the backbone of survival. Direct-to-consumer creates closeness, but when combined with retail shelves, it turns into dominance. Customers see you everywhere, remember you, and keep coming back.
About Foundlanes
Foundlanes positions Palmonas as a shining illustration of India’s blossoming demi-fine jewellery scene. The coverage dives deep into funding maneuvers, cutting-edge product innovation, and the magnetic pull of celebrity-led branding. It’s a goldmine of insight for entrepreneurs plotting their path, investors scouting opportunities, and consumers exploring the new-age D2C jewellery landscape.