Pooja Madhavan's Limelight Raises Rs 275 Crore

By: Women Entrepreneurs Review Team | Wednesday, 1 July 2026

Lab-grown diamond jewellery firm Limelight Diamonds has raised Rs 275 crore in a strategic funding round led by its key promoters—group Bhathwari and a number of strategic partners from the jewellery industry. The new injection of capital will help the company grow to the next level, enabling it to build manufacturing capabilities, grow its retail network and increase product innovation, the company said.

The company has been raising funds via equity and cash consideration, according to the company. The finance will mostly be deployed for strengthening vertical integration in the business, towards expanding the manufacturing footprint, investing in design and innovation, and speeding up retail expansion in India. This strategy will provide the company with more control of its supply chain, more efficient production and a more accelerated product development.

Limelight Diamonds was established in 2019 by Pooja Madhavan and is dedicated to Chemical Vapour Deposition (CVD) Lab Grown diamonds. The company markets itself as a jewellery that uses technology to include diamonds with the same physical, chemical and optical properties as mined diamonds, and that it is transparent, affordable and contemporary.

Key Highlights:

• Raised Rs 275 crore to expand manufacturing and retail operations
• Targets 200 stores by 2027, with 100 new outlets planned in 2026
• Focuses on vertical integration to strengthen its lab-grown diamond business

The company has been rapidly growing in India in the last few years. According to Limelight, it now has more than 75 exclusive brand outlets in more than 45 cities, the widest exclusive retail network for lab-grown diamond jewellery in the country. It offers solitaire jewellery, daily fine jewellery, engagement jewellery and high-end statement jewellery which caters to today's eco-conscious customers.

The company is entering an aggressive growth phase, so the latest investment is expected to help support its efforts. Limelight is looking to build on its presence in metros and grow its stores deeper into Tier I and emerging Tier II cities with a combination of company owned and franchise stores. The brand plans to open another 100 stores in 2026 and extend its presence to 200 shops by 2027, expressing the company's optimism about the rising demand for lab-grown diamond jewellery in India.

A major focus of the investment will be vertical integration. The company's plan to move into in-house manufacturing and diamond-growing will help it cut down on reliance on third parties, enhance its cost efficiencies, guarantee quality and reduce the time needed to come up with new collections. Vertical integration is seen as an important competitive strength in the rapidly expanding lab-grown diamond market by industry participants.

Over the past few years, the demand for lab-grown diamonds has been rising due to technological developments, consumer awareness, and the desire for accessible and sustainable options to mined diamonds. Companies like Limelight already believe that India is ripe to emerge as a hub of lab-made diamond manufacturing and exporting around the world, with the nation already being one of the largest centres of diamond cutting and polishing in the world.

Limelight Diamonds is set to use the Rs 275 crore infusion of capital to boost its leadership in the organised lab-grown diamond jewellery segment in India and further its investments in manufacturing, innovation and expanding its retail footprint across the country to meet future growth expectations.