So/Facet, an Indian lab-grown diamond jewellery startup founded by ex-Unilever executives, has raised Rs 10 crore in a round led by consumer investment firm Sauce. The company plans to debut online in November with premium jewellery collections and open over 30 retail stores in the coming three years, starting in India and expanding to international markets including the Middle East.
- Raised Rs 10 crore led by Sauce and key angel investors
- Launching online in November with six jewellery collections
- Plans 30+ premium retail store openings in India and abroad
What happened
So/Facet, a startup specializing in lab-grown diamond jewellery, successfully closed a Rs 10 crore funding round led by Sauce, a consumer-focused investment firm. Other participants included cofounders of Mokobara, Chona Family Office, Haleon South Asia president Kedar Lele, and Moonshot co-founder Devaiah Bopanna.
Founded by former Unilever executives Aarushi and Abhishek Naulakha, the company is set to launch its online platform in November with six distinct jewellery collections. It aims to establish a premium brand presence by opening over 30 stores across India and later expanding into international markets, notably the Middle East.
Why it matters
So/Facet’s strategy reflects a shifting landscape in the diamond industry, where lab-grown diamonds have become more accessible due to price declines. The startup positions itself to capture younger consumers by emphasizing stylish, everyday designs and competitive pricing ranging from Rs 15,000 to Rs 30,000 for entry-level collections.
The company highlights an industry evolution where craftsmanship and labor now dominate costs rather than raw materials, signaling a maturation of the lab-grown diamond sector. This approach could help address consumer hesitancy by making diamond jewellery more appealing beyond traditional occasions like weddings.
What to watch next
Monitor So/Facet’s market entry and brand reception once it goes live online in November, including consumer response to its pricing and design strategy targeting younger demographics. The startup’s ability to scale retail operations across India and successfully penetrate international markets will be key indicators of growth potential.
Competitive dynamics with other lab-grown diamond brands like Aukera, JewelBox, and Limelight Diamonds are important to track, as well as any further initiatives by Sauce and other investors in sustainable and consumer-focused jewellery ventures in India.