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Surat-based lab-grown diamond and Polki jewellery brand IVANA Jewels has raised Rs 2 crore in seed funding from Avinya Ventures, and plans to use the capital to launch new product lines, strengthen marketing activities, and accelerate store expansion across India.

The Jindal group firm is targeting a revenue of Rs 60 crore in FY26 over four times its FY25 revenue of Rs 14 crore.

The company aims to achieve this growth through a combination of offline and online expansion. Its plan includes operating 12-15 stores by the end of the current fiscal year.

This approach is intended to enable capital-efficient scaling and faster market reach, particularly in tier 1, 2, and 3 cities where access to lab-grown diamond jewelry is limited, the company said in a statement.

Currently, the company has stores in Noida, Surat, Nagpur, Delhi, and Mumbai, and is now preparing to open new outlets in Chandigarh and Ahmedabad.

Concurrently, it is strengthening its online business by expanding its product range, improving customisation capabilities, and introducing personalised services to boost conversions.

Online channels such as Instagram and the company's website contribute nearly 60 per cent of its total sales.

"We have secured Rs 2 crore in seed funding from Avinya Ventures to fuel our growth plans and are actively engaging in discussions for additional funding.

"With strong product innovation, a well-executed omnichannel strategy, a capital-light franchise model, and increasing brand awareness, we are on track to achieve our Rs 60 crore revenue target by March 2026," Ayushi Jindal, Co-founder of IVANA Jewels, said.

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