FUNDING

ONYA Secures ₹12.5 Crore Pre-Series A Funding to Expand Lab-Grown Diamond Jewellery

By Karostartup

Lab-grown diamond jewellery brand ONYA has raised ₹12.5 crore in its latest pre-Series A funding round. The round was led by Divisa Family Office and existing investor Zeropearl VC ‌also participated. 

ONYA plans to use the funds to open more stores, grow its online presence, improve personalisation and product development. 

What Is ONYA?

ONYA is a lab-grown diamond jewellery brand founded in 2024 by Himani Yadav and Gaurav Choudhary. The name comes from “On You,” reflecting its focus on pieces that feel personal and wearable every day.

The company sells IGI-certified lab-grown diamonds set in BIS-hallmarked gold. It offers contemporary designs and personalisation options. It gives strong customer promises such as 100% lifetime exchange and 80% lifetime buyback. Products typically cost about one-fifth the price of comparable natural diamond jewellery.

ONYA started offline-first in Bengaluru and has grown quickly. Within about 20 months it reached 8 flagship stores across Bengaluru, Pune, and Hyderabad. It has reported monthly recurring revenue of around ₹3.5 crore.

ONYA Funding History: The Two Rounds

Pre-seed round (November 2025)

ONYA raised ₹5.5 crore led by Zeropearl VC. Angel investors also joined, including MyGate founders (Vijay Arishetty, Abhishek Kumar, Shreyans Daga, Rohit Jindal), UrbanVault founder Amal Mishra, and Alkendra Pratap Singh.

The money mainly supported offline store expansion in major Indian cities and product line growth. At that stage the brand already had four profitable high-street stores in Bengaluru and about ₹2 crore monthly revenue.

Pre-Series A round (September 2026)

ONYA raised ₹12.5 crore led by Divisa Family Office. Existing investor Zeropearl VC also participated and increased its stake. This brought total funding to approximately ₹18 crore.

How Will ONYA Use the New Funding?

The company plans to use the fresh capital for:

• Expanding its retail footprint, with early focus on more stores in Pune and Hyderabad

• Growing through a mix of company-owned and franchise stores

• Strengthening online presence and digital customer acquisition

• Improving personalisation tools

• Investing in research and development for jewellery design and manufacturing

The goal is an omnichannel experience that combines physical stores with strong online and personalised offerings.

Why Investors Are Backing ONYA

Investors see ONYA as well-positioned in India’s fast-growing lab-grown diamond market. Key reasons include:

• Strong early traction: Rapid store growth and rising revenue in a short time

• Design-led approach: Contemporary, personalised pieces rather than only price-focused offerings

• Offline-first model with digital support: Proven high-street stores plus online capabilities

• Alignment with market trends: Younger buyers (Gen Z and millennials) prefer ethical, affordable, high-quality diamonds

Zeropearl VC has highlighted that ONYA fits its “Indiluxe” thesis of premium Indian consumer brands. The founders’ backgrounds in product, growth, and operations at companies like Ola, Myntra, and MyGate also add confidence.

Lab-Grown Diamond Market Context in India

India’s lab-grown diamond jewellery market is expanding quickly. Estimates put it at several hundred million dollars in recent years, with projected growth of around 15% CAGR over the next decade. India already plays a major role in global production, cutting, polishing, and certification of lab-grown diamonds.

Government support, lower prices compared with natural diamonds (often 70-90% less), rising awareness of ethical options, and demand for everyday luxury are driving the category. Many startups and even legacy players have entered the space, and funding activity has increased significantly.

ONYA stands out with its focus on design, store experience, and customer assurances rather than competing only on price.

What This Means for ONYA’s Customers and the Brand

For buyers, the funding supports more stores, better personalisation, and continued investment in quality and design. Existing policies like lifetime exchange and buyback remain part of the value proposition.

For the brand, the capital helps move from a successful Bengaluru base into broader multi-city growth while building digital and product capabilities. It positions ONYA to capture a larger share of the conscious luxury jewellery market in India.