ONYA Raises ₹12.5 Crore After Building Eight Stores in 20 Months
Lab-grown diamond jewellery brand ONYA has raised ₹12.5 crore in a pre-Series A round led by Divisa Family Office, with Zeropearl VC doubling down, as it expands its retail footprint in Pune and Hyderabad.
ONYA, a lab-grown diamond jewellery brand, has raised ₹12.5 crore in a pre-Series A round led by Divisa Family Office. Existing investor Zeropearl VC doubled down in the round.
Founded in 2024 by Himani Yadav and Gaurav Choudhary, ONYA has opened eight flagship stores across Bengaluru, Pune and Hyderabad within about 20 months of starting operations. The company reports monthly revenue of about ₹3.5 crore, according to Entrackr.
Where the money will go
The brand will use the new capital to expand its retail presence in Pune and Hyderabad, strengthen its online channel and personalisation capabilities, and invest in research and development for jewellery design and manufacturing. It plans to enter further markets through a mix of company-owned and franchise stores.
Its recent openings include stores at Amanora Gold Souk Mall in Pune and on Road No. 36 in Jubilee Hills, Hyderabad.
The round follows a ₹5.5 crore seed round in November 2025 led by Zeropearl VC, which included angel investors from the founding teams of MyGate and UrbanVault.
Everyday jewellery, not locker jewellery
ONYA sells IGI-certified lab-grown diamonds set in BIS-hallmarked gold, priced at roughly 20% of the cost of comparable natural diamonds. It offers lifetime exchange and an 80% buyback guarantee, a policy designed to address one of the main doubts buyers have about lab-grown stones: resale value. The company also has a patented ring design called the ONYA Setting and a Signature Collection inspired by neoclassical architecture.
“Fine jewellery shouldn’t be locked away in safes for rare occasions; it should be lived in, cherished, and worn every day as an expression of personal identity,” said Himani Yadav, co-founder.
Why it matters
Lab-grown diamonds have become one of the fastest-growing segments of India’s jewellery market, helped by lower prices, younger buyers who care less about the provenance of a natural stone, and India’s position as a major producer of lab-grown diamonds. The category has drawn a wave of venture-backed brands, and ONYA competes with Aukera, Limelight, Jewel Box, Fiona, Lucira Jewellery, True Diamond and GIVA’s lab-grown offering.
Physical retail is expensive, and many jewellery start-ups have struggled to open stores quickly without burning cash. ONYA’s case to investors rests on expanding its footprint while keeping store-level economics in check, which is why a family office, rather than a large venture fund, leading this round is worth noting.
What happens next
ONYA’s next phase will test whether its model works through franchise partners and in cities beyond its first three markets. Holding its buyback promise steady as volumes grow, and differentiating on design in an increasingly crowded shelf, will be central to that.
