PALMONAS Sparkles with Rs 55 Cr Series A Funding

Palmonas has raised Rs 55 Cr in Series A funding led by Vertex Ventures SE Asia & India (SEAI).

Founded by Pallavi Mohadikar and Dr Amol Patwari, with Shraddha Kapoor later joining as cofounder in 2022, Pune, India

Palmonas is building demi-fine jewellery using surgical stainless steel and sterling silver with an 18K gold vermeil finish, offering necklaces, rings, bracelets, earrings, and mangalsutras.

The brand follows a D2C-first model, selling mainly through its online store, while also using marketplaces like Amazon and Flipkart and offline stores.

The fresh capital will be used to boost its 9kt gold demi-fine collection, open 100 new stores over the next year, and enter new product categories.

• Processed over 6.5 lakh orders and built a loyal base of repeat customers.
• Valued at Rs 126 crore after Namita Thapar and Ritesh Agarwal invested Rs 1.26 crore on Shark Tank India Season 4.