Lab-grown diamond jewellery brand Aukera has raised ₹90 crore (approximately US$10 million) in a fresh debt funding round led by existing investor Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton, and a leading bank.

The latest funding follows the company's US$15 million equity round completed less than a year ago, led by Peak XV Partners, with participation from Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital.

Commenting on the development, Lisa Mukhedkar, Founder & CEO of Aukera, said the new capital will enable the brand to accelerate its expansion into more cities while continuing to strengthen its promise to consumers.

Co-Founder Kumar Saurabh stated that the company believes the eventual market leader in the lab-grown diamond jewellery segment will require investments of at least ₹1,000 crore, as consumer acceptance continues to grow and the industry evolves alongside changing dynamics in the natural diamond sector.

According to the company, the newly raised funds will be deployed to expand its retail footprint across new and existing markets, invest further in design, product innovation and talent, and strengthen the omnichannel capabilities supporting its business.

Founded in 2023, Aukera has rapidly expanded its company-owned retail network from 13 to 35 stores since its previous fundraising round. In addition to strengthening its presence in Bengaluru, Hyderabad, and Delhi NCR, the brand has entered new markets including Pune, Lucknow, Dehradun, and Visakhapatnam (Vizag).

The latest funding reflects continued investor confidence in India's fast-growing lab-grown diamond jewellery sector, as brands accelerate retail expansion and compete for leadership in the evolving category.