Palmonas is a direct-to-consumer demi-fine jewellery brand. It was co-founded by Pallavi Mohadikar, Amol Patwari, and Bollywood star Shraddha Kapoor. Palmonas has secured ₹55 crore in a Series-A funding round led by Vertex Ventures in Southeast Asia and India.This new capital will power its expansion across India and beyond.
Retail and Collection Reach
Palmonas plans to open 100 new stores in the next 12 months with the new funding.The brand’s focus will also include broadening its signature 9kt gold demi-fine collection and exploring new product categories.
Founded in 2022, Now Going Global
In 2022, Palmonas was established. Since then, it has completed more than 650,000 orders and gained popularity among millennials and Gen Z who are fashion-conscious. In March 2024, Shraddha Kapoor became a co-founder. She helps with the brand’s marketing and storytelling by leveraging her notoriety.
Funding History: From Shark Tank to Institutional Round
Earlier in 2025, Palmonas raised ₹1.26 crore on Shark Tank India Season 4 from Namita Thapar and Ritesh Agarwal, valuing the brand at ₹126 crore post-money. Prior to that, it had raised ₹6 crore in an angel round.
According to one report, the recent Series A puts the company’s post-money valuation at approximately ₹550 crore ($65 million).
Financial Snapshot and Market Potential
In FY 2023-24, Palmonas’s operating revenue rose to ₹5.38 crore from ₹3.83 crore in FY23, although it recorded a loss of ₹1.24 crore, a common trend for high-growth D2C brands investing heavily in expansion.
India’s demi-fine jewellery market is growing rapidly. Estimates place it at hundreds of millions of dollars, with projected multi-year CAGR in double digits, creating fertile ground for brands like Palmonas.
What Sets Palmonas Apart
- Design-first approach: Pieces are crafted from surgical-grade stainless steel or sterling silver, with durable 18K gold vermeil plating. combining elegance with everyday wearability.
- Accessible luxury: The brand bridges fast fashion and fine jewellery, designed to make demi-fine jewellery feel personal, affordable, and part of daily life
Where Palmonas Goes From Here
With ₹55 crore in Series A capital, a celebrity cofounder, clear retail expansion plans, and a strong digital footprint, Palmonas is poised to scale dramatically in India and eye a global audience soon. The blend of design sensibility, accessible pricing, and brand storytelling could well make it a standout in the booming demi-fine jewellery space.
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