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Solitario Diamonds closed fresh round of funding, valuation hits Rs 300 cr

The capital raised will drive Solitario’s expansion in the Delhi NCR region and fuel investments in retail, inventory, and brand experience across high-potential urban hubs

Bengaluru: Lab-grown diamond jewellery brand Solitario Diamonds has closed a fresh round of funding at a valuation of Rs 300 crores.

The round brings on board Gautam Budhrani, trustee of the Budhrani Knowledge Trust and part of the Budhrani Group of Hospitals, as a strategic investor.

The capital raised will drive Solitario’s expansion in the Delhi NCR region, a key growth market for the brand, and fuel investments in retail, inventory, and brand experience across high-potential urban hubs.

“This funding is a strategic step forward in our journey to make Solitario the most trusted name in lab-grown diamond luxury. With Gautam Budhrani joining us, we gain not just capital, but a like-minded visionary who believes in our long-term mission to take Indian innovation global,” said Ricky Vasandani, CEO & Founder at Solitario Diamonds.

Solitario was founded in 2022 by Vasandani and actor-entrepreneur Vivek Oberoi. Starting with its first store in Pune, the brand has expanded to over 10 flagship locations across India and abroad, including Mumbai, Bengaluru, Chennai, Lucknow, and Dubai. It now has a presence in six global markets, including the UAE, Malaysia, and Spain.

The brand aims to cross Rs 200 crore in annual turnover by FY 2026, leveraging a loyal customer base, robust offline presence, and increasing interest in sustainable luxury.

The post Solitario Diamonds closed fresh round of funding, valuation hits Rs 300 cr appeared first on India Retailing.



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