Lab-grown diamond brand ONYA secures ₹5.5 crore pre-seed round
In a significant development, ONYA, a Bengaluru-based startup that offers IGI-certified lab-grown diamond jewellery in BIS Hallmarked gold, has raised ₹5.5 crore in pre-seed funding. The round was led by Zeropearl VC, a venture capital firm that invests in early-stage startups. The funding also saw participation from prominent investors, including the founders of MyGate, UrbanVault’s Amal Mishra, and Crescendo Industries’ Alkendra Pratap Singh.
ONYA’s mission is to make high-quality, affordable, and sustainable diamond jewellery accessible to a wide range of consumers. The startup uses cutting-edge technology to grow diamonds in a laboratory, reducing the environmental impact and ethical concerns associated with traditional diamond mining. ONYA’s products are certified by the International Gemological Institute (IGI) and are set in BIS Hallmarked gold, ensuring the highest standards of quality and purity.
The pre-seed funding will be used to support ONYA’s offline expansion plans, as well as the development of new product lines. The startup aims to establish a strong presence in the Indian market, with a focus on providing exceptional customer experiences through its retail stores and online platform. With the fresh capital, ONYA plans to increase its marketing efforts, enhance its product offerings, and build a strong team to drive growth.
The investment by Zeropearl VC and other prominent investors is a testament to ONYA’s innovative approach and growth potential. The lab-grown diamond market is rapidly growing, driven by increasing consumer awareness and demand for sustainable and affordable luxury products. ONYA is well-positioned to capitalize on this trend, with its unique value proposition and commitment to quality and sustainability.
“The pre-seed funding is a significant milestone for ONYA, and we are thrilled to have Zeropearl VC and other esteemed investors on board,” said [Founder’s Name], Founder of ONYA. “The capital will enable us to accelerate our growth plans, expand our reach, and introduce new products that cater to the evolving needs of our customers. We are excited about the future prospects and look forward to working with our investors to achieve our vision.”
The participation of founders of MyGate, UrbanVault’s Amal Mishra, and Crescendo Industries’ Alkendra Pratap Singh in the funding round is a significant endorsement of ONYA’s business model and growth potential. These investors bring a wealth of experience and expertise in the startup ecosystem, which will be invaluable in guiding ONYA’s journey.
ONYA’s success is a reflection of the growing interest in lab-grown diamonds and the potential for innovation in the jewellery industry. As consumers become more conscious of the environmental and social impact of their purchasing decisions, startups like ONYA are poised to revolutionize the market with sustainable and affordable luxury products.
In conclusion, ONYA’s ₹5.5 crore pre-seed funding is a significant development in the Indian startup ecosystem. With the support of Zeropearl VC and other prominent investors, ONYA is well-positioned to disrupt the traditional diamond jewellery market and capitalize on the growing demand for sustainable and affordable luxury products. As the startup continues to grow and expand its offerings, it will be exciting to watch its journey and the impact it has on the industry.
Source: https://ascendants.in/business-stories/onya-raises-5-5-crore-pre-seed-zeropearl-vc/
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