Indian D2C jewellery segment garners $103 mn in funding this year, surpasses US

The D2C jewellery segment in India has seen significant growth this year, with over 550 startups raising $103 million in funding so far. The sector has been on an upward trajectory, with a 57% increase in funding compared to 2022, reaching a total of $104 million in 2023. Bengaluru, Chennai, and Mumbai are the top cities for D2C jewellery funding, with Bengaluru contributing over 77% of the total. India has surpassed the US and Finland in terms of funding share within the global D2C jewellery sector. The surge in investment is driven by changing consumer preferences, technological advancements, and a focus on sustainability and customisation. Key players like BlueStone and Ultra human have secured significant funding, with leading investors including Saama Capital, Accel, and Kalaari Capital. The future looks promising for the D2C jewellery market, with brands that can adapt to changing demands and leverage digital platforms poised to lead the next phase of growth.