Dholakia Lab Grown Diamond (DLGD) has raised over Rs 800 crore in one of the largest growth-stage investments in India’s lab-grown diamond (LGD) segment, led by Abakkus PE, with participation from ICICI Ventures IAF5, Amal Parikh, and other marquee investors.
The fresh capital will be channelled towards scaling production capacity, strengthening working capital, and accelerating the rollout of a pan-India retail network.
The company is also expanding into high-precision single-crystal diamonds for applications across optical, quantum, thermal, defence, and semiconductor sectors.
Backed by the legacy of the Hari Krishna Group, DLGD operates a fully integrated value chain, from diamond growing and polishing to jewellery design, manufacturing, and global distribution, positioning it strongly in the fast-evolving sustainable luxury space.
“Global demand for lab-grown diamonds is reaching an inflection point, with increasing acceptance among younger consumers and luxury retailers,” said Hasu Dholakiya, CEO, DLGD, adding that the capital will help scale the business “responsibly and innovatively.”
With this fundraise, DLGD is set to deepen its presence across both global and domestic markets, while building capabilities beyond jewellery into high-value industrial and deep-tech applications.
DLGD is also among the earliest global adopters of lab-grown diamonds, having introduced the category to major US retailers as early as 2018.
UBS acted as the exclusive advisor in this fundraise.
