Bengaluru-based laboratory-grown diamond jewellery brand Aukera has raised Rs 90 crore (over $10 million) in a fresh debt funding round to support its next phase of growth in India's organized laboratory-grown diamond jewellery market. The round was led by existing investor Alteria Capital, with participation from InnoVen Capital, Lighthouse Canton and a leading bank.

The company said the capital will be deployed to accelerate its national retail expansion, strengthen its omnichannel capabilities, invest in design and product innovation, and expand its talent base. The funding comes as organized players continue to scale operations amid increasing competition in the laboratory-grown diamond jewellery segment.

The latest debt raise follows Aukera's $15 million Series B equity funding round completed within the past year, led by Peak XV Partners, with participation from Fireside Ventures, Sparrow Capital, Prath Ventures and Alteria Capital. The company said the fresh capital will also strengthen its balance sheet as it expands its retail presence across the country.

Aukera has grown its company-owned retail network significantly over the past year, increasing its footprint from 13 stores to 35 locations nationwide. The company positions itself in the premium laboratory-grown diamond jewellery segment and has been expanding its offline presence alongside its digital channels.

The funding reflects continued investor interest in India's laboratory-grown diamond jewellery market, with brands investing in store expansion, product development and customer acquisition as consumer awareness and acceptance of laboratory-grown diamonds continue to grow.