Avinya Ventures plans to accelerate store expansion across India

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. IVANA Jewels secures Rs 2 cr in seed funding from Avinya Ventures, aiming for Rs 60 cr revenue in FY26 through store expansion and online growth.

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 jewellery 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.