Limelight Lab Grown Diamonds on Monday onboarded actor and entrepreneur Shilpa Shetty as a strategic investor and the brand ambassador of the company.
The Mumbai-based jeweller, which operates over 50 stores across more than 45 Indian cities, said the move is part of its strategy as it aims to expand to 100 outlets by 2026.
“Limelight isn’t just participating in the lab-grown diamond category; we’re building it. As a first mover, we carry the responsibility to lead the shift in how lab-grown diamonds are perceived. With an aggressive roadmap to open 100 stores by 2026, we’re scaling both reach and relevance,” said Pooja Sheth Madhavan, Founder and Managing Director, Limelight Lab Grown Diamonds, in a statement.
Earlier in February, Limelight raised nearly $11 million (about Rs 90 crore) from fund houses, broking firms, family offices, and its promoters to strengthen its design offerings, expand retail presence, and support operational growth.
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Shetty’s investment comes amid growing activity in the lab-grown diamond sector.
Last month, Coluxe, a lab-grown diamond startup founded by Priyanka Gill, raised an undisclosed amount in a friends-and-family funding round from investors, including Startup Sherpas, Ajai Chowdhry, Tej Kapoor, and Sairee Chahal.
It plans to launch a digital storefront in August 2025 with over 300 SKUs, and is in talks with venture capital firms for a planned seed round.
Meanwhile, omnichannel brand Jewelbox raised $3.2 million in a pre-Series A round led by V3 Ventures to expand from eight to 30 stores by the year-end. In June, Bengaluru-based Aukera also raised $15 million in a Peak XV Partners-led round to expand beyond its 13 existing stores, strengthen product offerings, and invest in design and marketing.
Edited by Suman Singh
