Founded in 2022 by Pallavi Mohadikar and Amol Patwari, with Shraddha Kapoor joining as a co-founder in March 2024, Palmonas operates an omnichannel demi-fine jewellery brand. The company offers affordable pieces made from materials such as sterling silver and stainless steel with gold plating, positioned between fashion and fine jewellery. Palmonas sells through online platforms and a growing network of physical stores and plans to use its latest funding to expand its offline retail presence. Financially, the company reported a sharp revenue increase to Rs 39 crore for the fiscal year ending March 2025—over 40x growth from Rs 97 lakh in FY24—and posted a profit of Rs 4.3 crore in the same period. Its competitive landscape includes larger players such as GIVA, BlueStone, COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox.

Total raised

$46M

Funding rounds

2

Latest round

Series B

Latest activity

Apr 2026