Brands
Ekatra hits Rs 100 crore valuation in 100 days
Lab-grown diamond jewellery brand raises Rs 10 crore in strategic investment to fund expansion and product innovation
MUMBAI: Ekatra Retail Ventures Pvt. Ltd., a design, technology and content company, has reached a valuation of Rs 100 crore within 100 days of its launch after raising Rs 10 crore in strategic investment.
The funding round was backed by strategic investors and follows Rs 10 crore of founder capital invested over two years of pre-launch research and development. The company plans to use the fresh capital for brand building, retail expansion and product innovation across India and international markets.
Founded by Pavitra Gandhi, Ekatra has appointed Ekta Kapoor and Sussanne Khan as co-founders of Ekatra Jewels, with Khan also taking on the role of co-founder and design director.
The company operates a vertically integrated, farm-to-finger model, with control over its diamond and jewellery value chain. It grows and cuts its own Type IIa lab-grown diamonds, which account for around 2 per cent of diamonds, and has developed four patented cuts, including the 108-facet Shristi Ratna. It has also developed proprietary hollow gold construction technology.
The company’s fundraise comes as gold prices in India have crossed Rs 1.5 lakh per 10 grams, having risen more than 30 per cent over the past year. Ekatra said its hollow gold technology is designed to create the volume and appearance of statement jewellery while using significantly less gold.
The company’s newly launched OH MY GOLD collection by Sussanne Khan is the first major expression of the technology. The collection combines real gold, lab-grown diamonds and lightweight construction to create larger statement pieces with lower gold consumption.
Ekatra has developed a library of more than 5,000 designs for markets including India, the US and the Middle East. The company plans to use its integrated model and product development capabilities to build a luxury jewellery brand with a global presence.
The latest investment will support Ekatra’s next phase of growth as it expands its retail footprint and continues developing lightweight fine jewellery amid elevated gold prices.
