PALMONAS, a fast-rising direct-to-consumer (D2C) jewelry brand from India, has successfully raised $6,269,923 in Series A funding. The round was led by Vertex Ventures SE Asia & India, reflecting strong investor confidence in PALMONAS’ ability to redefine the modern jewelry segment with its everyday luxury proposition.

Founded by Dr. Amol Patwari and Pallavi Mohadikar, and backed by Bollywood icon Shraddha Kapoor, PALMONAS is building a new category of jewelry that bridges the gap between high-end luxury and daily wear affordability. With this capital infusion, the company aims to expand its product lines, scale operations, and strengthen its footprint in India’s booming D2C fashion market.

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The Product: Affordable Luxury for Everyday Wear

Jewelry has long been seen as an occasion-driven purchase in India - bought for weddings, festivals, or major life milestones. PALMONAS challenges this traditional mindset by introducing affordable luxury jewelry designed for daily wear, self-expression, and style versatility.

The brand focuses on:

• Everyday Luxury: Premium quality jewelry that is stylish yet accessible.
  
• Minimalist & Contemporary Designs: Catering to young, urban professionals seeking wearable elegance.
  
• Hypoallergenic, Long-Lasting Materials: Ensuring durability and comfort without the heavy price tags of fine jewelry.
  
• Direct-to-Consumer Reach: Leveraging digital-first channels to keep products affordable while scaling distribution.
  

This approach resonates strongly with India’s rising middle class and Gen Z/Millennial consumers, who aspire to luxury but demand affordability and convenience.

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Why This Matters Now

India’s jewelry industry is massive - worth more than $78 billion in 2021 - but still dominated by traditional gold and diamond players. Meanwhile, younger buyers are seeking products that reflect personal style and modern sensibilities without requiring massive investments. This generational shift is fueling the growth of affordable luxury, which sits between fast-fashion accessories and high-end fine jewelry.

The D2C jewelry market is expected to grow at a 15%+ CAGR in India, powered by increasing digital adoption and the rise of aspirational middle-class consumers. PALMONAS is perfectly positioned to ride this wave, offering products that balance status, quality, and affordability.

And here’s the ultra value drop founders should pay attention to: the real opportunities often sit in the “ignored middle,” where traditional giants won’t play and fast-fashion brands can’t deliver quality. PALMONAS isn’t competing with luxury houses like Cartier, nor is it chasing the throwaway trends of cheap accessories. Instead, it owns the space in between - a space that feels aspirational enough to elevate status but accessible enough to buy repeatedly. For founders, that’s a blueprint worth noting: you don’t always win by attacking the extremes - you win by defining the middle ground so clearly that customers feel you built it just for them. Once you own that space, you don’t just sell products - you shape behavior.

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Industry Outlook: The Future of D2C Jewelry

The global jewelry industry is undergoing a digital transformation, with India emerging as one of the most promising growth markets. Key trends include:

• Rise of Affordable Luxury: The global affordable luxury market is projected to surpass $350 billion by 2030, driven by younger demographics seeking aspirational products.
  
• Shift to Online Retail: Over 25% of jewelry sales in India are now influenced by digital channels, and the share continues to grow rapidly.
  
• Sustainability & Materials: Consumers increasingly value ethical sourcing and long-lasting, hypoallergenic materials.
  
• Celebrity-Backed D2C Brands: Partnerships with cultural icons like Shraddha Kapoor create brand visibility and emotional connection with young buyers.
  

PALMONAS sits at the intersection of these trends, making it well-positioned to scale rapidly in both Indian and global markets.

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The Investor Edge

The participation of Vertex Ventures SE Asia & India is a significant milestone for PALMONAS. Vertex is known for backing some of the most successful consumer and tech startups in the region, bringing not only capital but also operational expertise and networks to accelerate growth.

Combined with Shraddha Kapoor’s influence as both an investor and brand advocate, PALMONAS gains both strategic capital and cultural capital, creating a powerful foundation for brand-building.

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What’s Next for PALMONAS

With $6.2 million in new funding, PALMONAS plans to:

• Expand product offerings with new collections that balance affordability and luxury appeal.
  
• Scale digital marketing to reach a wider audience of urban millennials and Gen Z consumers.
  
• Strengthen D2C infrastructure, including logistics, customer experience, and technology integration.
  
• Expand offline presence through premium store formats in key metro cities.
  
• Explore international markets, tapping into global demand for contemporary Indian-inspired jewelry.
  

Over the next 18 months, the company aims to cement its position as the go-to brand for everyday luxury jewelry in India.

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Final Thoughts

PALMONAS’ $6.2 million Series A raise is more than a funding milestone - it’s a signal that affordable luxury is becoming the next big frontier in Indian fashion. By occupying the sweet spot between premium fine jewelry and fast-fashion accessories, PALMONAS is reshaping consumer expectations and redefining what jewelry means for a new generation.

For the startup ecosystem, the takeaway is sharp: innovation often thrives not at the extremes, but in the overlooked spaces between them. PALMONAS has shown that when you bridge aspiration with accessibility, you don’t just follow trends - you set them.