New Delhi: Lab-grown diamond brand Solitario Diamonds has raised a new round of funding at a valuation of Rs 300 crore, with Gautam Budrani, trustee of the Budrani Knowledge Trust and part of the Budrani Group of Hospitals, joining as a strategic investor, the company said in a media release on Wednesday.
The company said the capital will be used to expand in the Delhi-NCR region and support investments in retail, inventory, and brand experience across key urban markets.
“This funding is a strategic step forward in our journey to make Solitario the most trusted name in lab-grown diamond luxury. With Gautam Budrani joining us, we gain not just capital, but a like-minded visionary who believes in our long-term mission to take Indian innovation global,” said Ricky Vasandani, CEO and founder of Solitario Diamonds.
Founded in 2022 by Ricky Vasandani and Vivek Oberoi, the brand has grown from its first store in Pune to more than 10 flagship outlets in cities including Mumbai, Bangalore, Chennai, Lucknow, and Dubai.
