Lab-grown diamond brand Reia Diamonds raises pre-seed round

Lab-grown diamond jewellery brand Reia Diamonds has raised Rs 2 crore in a pre-seed funding round led by Dinesh Talera and family, along with participation from Venture Catalysts.

The proceeds will be utilized to accelerate its next phase of retail expansion, strengthen its omnichannel footprint, and deepen innovation across engagement rings and versatile everyday jewellery, Reia Diamonds said in a press release.

Launched in 2023 by Prapanjj S K Kota, Reia Diamonds is a jewellery brand specializing in lab-grown diamond jewellery. The brand aims to provide beautiful, high-quality, and ethically sourced lab-grown diamond jewellery. It primarily sells exquisite lab-grown diamond jewellery but also offers natural diamonds. It is known for its original designs, full customization, and transparent pricing.

As per market research, India’s lab-grown diamond market is estimated at $300–350 million in 2024 and is projected to grow at a ~15% CAGR over the next decade.

Reia Diamonds says that it uses certified lab-grown diamonds that are identical to mined diamonds in brilliance, and by blending innovation with craftsmanship, it creates jewellery that is conscious, timeless, and truly for the modern Indian woman.

Since inception, the brand claims to have built three profitable stores across Bengaluru, Guwahati, and Coimbatore. It offers a franchise model, which enables the brand to scale rapidly while maintaining profitability.