BlueStone Doubles Investment in Lab-Grown Diamond Brand Ethera with ₹25 Crore Funding :
PRIME VISTA NEWS
BlueStone has reinforced its confidence in India’s fast-growing lab-grown diamond jewellery segment by investing ₹25 crore in Ethera, significantly increasing its stake in the young but rapidly expanding brand. The latest funding round marks BlueStone’s second investment in Ethera, effectively doubling its financial commitment as the company accelerates its retail and operational expansion.
Founded in 2024 by entrepreneurs Nitesh Jain and Sharad Arora, Ethera is positioning itself as a modern, design-forward jewellery brand focused on laboratory-grown diamonds. Headquartered in Bengaluru, the company currently operates five physical retail stores across Bengaluru and Delhi and plans to open additional outlets in the coming weeks as part of its expansion strategy.
According to the company, the fresh capital will be deployed primarily toward scaling its physical retail footprint, strengthening technology infrastructure, and enhancing brand visibility. The funding will also support improvements in supply-chain operations and internal systems to ensure consistency and efficiency as the business grows.
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“BlueStone’s strategic backing significantly strengthens our ability to scale responsibly,” said Ethera co-founder Sharad Arora. “It enables us to expand our retail presence, deepen our supply-chain capabilities, and build the operational backbone needed to support long-term growth.”
India’s lab-grown diamond jewellery market is emerging as one of the fastest-growing segments within the broader jewellery industry. Industry estimates place the current opportunity at approximately $500 million in annual revenue, with growth rates of 35 to 40 per cent year-on-year. Market analysts expect the segment to gain a substantially larger share of the overall diamond jewellery market by 2030, driven by increasing consumer awareness around ethical sourcing, transparency, and value-driven luxury.
Ethera’s product portfolio includes earrings, bracelets, solitaires, pendants, and necklaces crafted with IGI-certified lab-grown diamonds and BIS-hallmarked gold. The brand follows an aggressive design and innovation cycle, launching more than 200 new designs every month to keep pace with changing consumer preferences while maintaining quality and certification standards.
Co-founder Nitesh Jain said the latest funding would allow the company to scale without compromising trust. “This capital enables us to broaden our retail reach while continuing to invest in systems that ensure reliability and consistency at every customer interaction,” he said.
BlueStone’s increased investment reflects a broader shift within India’s organised jewellery sector, where retailers are increasingly embracing lab-grown diamonds as a mainstream category rather than a niche alternative. Lower price points, improved production technology, and growing acceptance among younger consumers have accelerated adoption, particularly in urban markets.
For BlueStone, the move aligns with its strategy of backing high-growth, future-ready jewellery brands that combine modern retail formats with operational discipline. While the company has traditionally focused on natural diamond jewellery, its growing exposure to lab-grown diamonds underscores a pragmatic response to evolving market dynamics and consumer demand.
Ethera’s near-term roadmap includes expanding into additional metropolitan markets, strengthening its omnichannel presence, and reinforcing backend technology systems to support higher store density. The company has not disclosed further fundraising plans but indicated that the current round provides sufficient capital to support its next phase of expansion.
As India’s jewellery industry continues to evolve, investments such as this highlight increasing institutional confidence in lab-grown diamonds as a scalable and sustainable segment. With strong backing and a focused retail strategy, Ethera is positioning itself to play a meaningful role in shaping the future of fine jewellery in the country.
