Dholakia Lab Grown Diamond has raised more than Rs 800 crore in a major funding round aimed at expanding its retail footprint, manufacturing capabilities and deep-tech diamond initiatives, marking one of the largest investments in India’s lab-grown diamond sector.

The investment round was led by Abakkus Asset Manager, with participation from ICICI Venture and other investors. The company said the capital infusion will support capacity expansion, working capital requirements, retail growth and advanced research into industrial applications of lab-grown diamonds.

Dholakia Lab Grown Diamond operates under the Hari Krishna Group and maintains an integrated supply chain spanning diamond growing, cutting, polishing and jewellery manufacturing. The company currently serves international markets across more than 25 countries through operations based in Surat, Mumbai and New Jersey.

According to the company, a significant portion of the investment will be directed toward scaling physical retail operations in India as consumer demand for lab-grown diamond jewellery continues to increase across domestic and export markets. The funding is also expected to strengthen production infrastructure and support product development initiatives.

In addition to jewellery manufacturing, the company is investing in precision single-crystal diamond technologies targeted at semiconductor, optical, defence and quantum computing applications. This positions the business beyond traditional jewellery manufacturing and reflects the growing convergence between lab-grown diamond production and advanced material technologies.

The funding comes at a time when India’s lab-grown diamond sector is witnessing rising investor interest, supported by increasing consumer acceptance, export opportunities and government focus on emerging technology-driven manufacturing industries.

Industry observers view the development as a significant indicator of institutional confidence in the long-term growth potential of India’s organised lab-grown diamond ecosystem and its expanding role in both jewellery and industrial applications.