Bluestone Invests Rs 25 Crore In Lab-Grown Diamond Jewellery Label Ethera

Ethera, a laboratory-grown diamond jewellery brand, said on Tuesday it raised Rs 25 crore from Bluestone in a funding round that will support the company's retail expansion.

The Bengaluru-based startup, founded in 2024 by Nitesh Jain and Sharad Arora, operates five retail stores in Bengaluru and Delhi and plans to open additional locations in coming weeks, the company said in a statement.

"BlueStone's strategic backing strengthens our ability to expand our retail presence, deepen our supply-chain capabilities and build the operational backbone needed for the scale ahead," co-founder Arora said in a statement.

India's lab-grown diamond jewellery market represents an estimated $500 million revenue opportunity and is growing at 35-40% year-on-year, Ethera said.

The segment is expected to capture a larger share of the overall diamond jewellery market by 2030 as consumers increasingly seek ethical and transparent luxury options.

Ethera offers jewellery, including earrings, bracelets, solitaires, pendants and necklaces made with IGI-certified lab-grown diamonds and BIS-hallmarked gold. The brand launches over 200 new designs monthly.

"This capital enables us to expand our retail reach while continuing to invest in systems that deliver consistency and trust at every touchpoint," co-founder Jain said.

The funding will be deployed primarily for physical retail expansion, strengthening technology infrastructure and brand awareness, the company said.

Bluestone, which previously invested in Ethera, has now doubled its investment in the brand.

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