Palmonas, the demi-fine jewelry brand featured on Shark Tank India, has successfully raised Rs 55 crore in a Series A funding round led by Vertex Ventures SEA. Founded in 2022 by Shraddha Kapoor, Amol Patwari, and Pallavi Mohadikar, the brand focuses on design-led, high-quality jewelry crafted to seamlessly fit into the daily lives of modern consumers. Palmonas bridges the gap between fast fashion and fine jewelry, offering waterproof, skin-safe pieces that combine craftsmanship with practicality. The brand has fulfilled over 6.5 lakh orders so far and is now poised for aggressive growth, planning to open 100 new stores within the next year and doubling down on its popular 9kt gold demi-fine collection and best-selling categories.
Shraddha Kapoor, who joined as co-founder in March 2024, emphasizes the philosophy that jewelry should feel like a "second skin"—beautiful, effortless, and part of everyday life rather than reserved for special occasions. This funding will empower Palmonas to expand faster, design bolder collections, and deliver an enhanced and seamless shopping experience, making demi-fine jewelry accessible to millions across India and beyond. CEO and Co-Founder Pallavi Mohadikar highlights how the brand's rapid launch and customer-driven approach continue to fuel its growth.
The lead investor, Kanika Mayar, Partner at Vertex Ventures SEA & India, praised the founders for their execution and innovation and expressed excitement about supporting Palmonas as it scales nationally and ventures into global markets. Earlier this year, the brand had a valuation of Rs 126 crore after raising Rs 1.26 crore from notable investors including Namita Thapar and Ritesh Agarwal on Shark Tank India Season 4. Palmonas had also closed an angel funding round of Rs 6 crore before this.
This substantial influx of capital marks a significant milestone for Palmonas, signaling a new phase of accelerated growth and innovation in the Indian demi-fine jewelry sector—an exciting development for consumers seeking stylish, durable, and everyday wearable luxury.
This blog post highlights the key milestones and visionary leadership driving Palmonas's journey from a startup to a fast-growing brand ready to redefine jewelry for modern India and beyond.
If interested, further coverage on Palmonas's future collections, expansion plans, and customer engagement strategies can be followed as the brand scales rapidly post this funding round.
[Source: Palmonas raises Rs 55 crore in funding; co-founder Shraddha Kapoor says, 'Jewellery should feel like a second skin']
Reviewed by Aparna Decors
on
August 26, 2025
Rating:
