ONYA Raises Rs 12.5 Crore Pre-Series A, Targets Retail Expansion After Reaching Rs 3.5 Crore MRR

Om Singh

| September 24 | Business Stories, Funding Feed

ONYA, ONYA funding, ONYA raises Rs 12.5 crore, ONYA pre-Series A, ONYA startup, ONYA founders, Gaurav Choudhary, Himani Yadav, Divisa Family Office, Zeropearl VC, lab-grown diamond jewellery, lab-grown diamond startup India, Indian jewellery startups, diamond jewellery funding, jewellery startup funding, Bengaluru startups, Bengaluru jewellery brands, ONYA Signature Collection, ONYA Setting, lab-grown diamonds India, startup funding news, pre-Series A funding, Indian startup ecosystem, franchise expansion, retail expansion, diamond jewellery market, fine jewellery brands, IGI-certified lab-grown diamonds, BIS hallmarked gold,

Bengaluru-based lab-grown diamond jewellery startup ONYA has raised Rs 12.5 crore in a pre-Series A funding round led by Divisa Family Office, as the brand looks to expand its retail presence and strengthen its digital sales operations.

Existing investor Zeropearl VC also participated in the round, doubling down on its initial investment following ONYA’s Rs 5.5 crore seed funding. The startup had previously secured backing from angel investors, including the founders of MyGate, UrbanVault’s founder and others.

The fresh capital will support ONYA’s retail expansion, digital customer acquisition, online personalisation and research and development (R&D) in product design and manufacturing.

The fundraise comes as ONYA looks to build on its reported monthly recurring revenue (MRR) of Rs 3.5 crore and expand into additional markets through company-owned stores and franchise outlets.

ONYA Plans Retail Expansion Across New Markets

Founded in 2024 by Gaurav Choudhary and Himani Yadav, ONYA is a contemporary lab-grown diamond jewellery brand that combines design and technology to create everyday and occasion-focused fine jewellery.

The company has built its retail presence around flagship stores in high-street locations. It currently operates eight flagship stores across Bengaluru, along with outlets at Amanora Gold Souk Mall in Pune and Road No. 36, Jubilee Hills, Hyderabad.

With the latest funding, ONYA plans to widen its geographical reach through a mix of company-operated stores and franchise partnerships. The expansion strategy will allow the brand to build on its existing physical retail presence while continuing to invest in digital customer acquisition.

Patented Ring Setting and Personalised Jewellery Drive ONYA’s Offering

ONYA’s jewellery features IGI-certified lab-grown diamonds set in BIS-hallmarked gold. The brand focuses on craftsmanship and personalised designs, positioning its products as an alternative to natural diamond jewellery.

According to the company, its lab-grown diamond jewellery is priced at approximately 20% of the cost of comparable natural diamond pieces. It also offers a lifetime exchange and buyback promise.

The brand has developed its own patented ring setting, called the ONYA Setting. Its flagship ONYA Signature Collection draws inspiration from Neoclassical architecture, bringing architectural influences into contemporary fine jewellery design.

Alongside expanding its retail network, ONYA intends to use the fresh capital to improve online personalisation and deepen its R&D efforts. These investments are expected to support product innovation across design and manufacturing.

Lab-Grown Diamond Startups See Rising Investor Interest

ONYA’s latest fundraise comes amid increased investor activity in India’s lab-grown diamond jewellery segment. Nine pure-play lab-grown diamond startups collectively raised $26.4 million in 2025, compared with $4.7 million in 2024.

Several brands in the segment have secured fresh capital to support their growth plans.

Aukera raised Rs 90 crore in debt funding in July 2026, following a $15 million equity round led by Peak XV Partners. Limelight Lab Grown Diamonds raised Rs 275 crore in a strategic funding round to expand its manufacturing and retail operations.

GIVA, which operates the lab-grown diamond jewellery brand Heer, also raised Rs 530 crore in a Series C round. Other funded players in the segment include Jewelbox, Lucira Jewellery, True Diamond and Fiona Diamonds.

ONYA competes with brands such as Aukera, Limelight, Jewelbox and Fiona in the growing lab-grown diamond jewellery market.

ONYA Looks to Build on Its Current Revenue Scale

With Rs 12.5 crore in fresh funding, ONYA is looking to strengthen its retail and digital operations while expanding into new markets.

Its reported Rs 3.5 crore in monthly recurring revenue provides a measure of the business’s current scale as it prepares for the next phase of expansion.

The company’s immediate priorities include increasing its retail footprint, improving online personalisation and investing in product development, with both company-owned stores and franchises forming part of its planned expansion strategy.

Also Read: ByteAsk Raises $1 Mn in Y Combinator-Led Pre-Seed Round, Plans C++ AI Model