Lab-grown diamond startup So/Facet raises Rs 10 crore led by Sauce

Lab-grown diamond jewellery startup So/Facet has raised Rs 10 crore in a seed funding round led by consumer-focused venture capital firm Sauce, highlighting sustained investor confidence in India's expanding direct-to-consumer and precision manufacturing sectors.

The investment marks Sauce's first entry into the lab-grown diamond segment. Participating individual investors in the round include Mokobara co-founders Sangeet Agrawal and Navin Parwal, Haleon India Subcontinent president Kedar Lele, Moonshot co-founder Devaiah Bopanna, and the Chona Family Office behind Hocco Ice Creams.

Brand launch and retail expansion

Founded by former Unilever executives Aarushi Agrawal Naulakha and Abhishek Naulakha, So/Facet plans to use the capital for brand development, product design, technology infrastructure, hiring, and store expansion. The startup will launch its online platform, where over 200 prospective customers have already joined a pre-launch waitlist.

So/Facet aims to open more than 30 premium retail outlets across India over the next three years before expanding into international markets, including the Middle East. The brand is building an omnichannel retail model to allow customers to discover, purchase, and upgrade jewellery across both digital and physical platforms.

India's lab-grown diamond market growth

India's domestic market for lab-grown diamond jewellery is experiencing rapid expansion, supported by the nation's strong manufacturing base and shifting consumer preferences toward accessible luxury. Consultancy firm Wazir Advisors estimates India's lab-grown diamond market at Rs 3,452 crore for the 2024-25 financial year, projecting it to reach Rs 5,179 crore by 2027-28, representing annual growth of approximately 14 per cent.

Investors have poured significant capital into Indian lab-grown diamond startups to capitalize on this rising domestic and export potential.

Product strategy and pricing

So/Facet plans to introduce six initial collections featuring in-house designs and International Gemological Institute certified diamonds. Range offerings include the So/Me collection featuring star and butterfly motifs, So/Pop combining diamonds with colourful enamel charms, and the sculptural So/Icon line.

The startup plans to price entry-level collections between Rs 15,000 and Rs 30,000, positioning diamond jewellery as everyday wear rather than restricting purchases to traditional weddings and formal occasions. Company leadership noted that as raw material supply has expanded, precision craftsmanship, cutting, and design now form the primary share of total product value.