India’s lab-grown diamond (LGD) industry has received a major boost as Limelight Lab Grown Diamonds has raised ₹275 crore in a strategic funding round. The investment is one of the biggest fundraises in India’s fast-growing lab-grown diamond market and will help the company expand its manufacturing and retail business.
The latest funding comes at a time when more Indian consumers are choosing lab-grown diamonds because they are more affordable and environmentally friendly. Industry experts believe this investment shows growing confidence in India’s lab-grown diamond sector and could encourage more companies to invest in the space.
Limelight Plans to Manufacture Its Own Diamonds and Open More Stores
The ₹275 crore funding round was led by the company’s promoters, the Bhathwari Group. It also received support from strategic partners in the jewellery industry and several existing franchise partners. The investment includes both equity and cash.
A major part of Limelight’s future plan is to become a fully integrated lab-grown diamond company. Instead of depending on outside suppliers, the company will invest in growing and manufacturing its own diamonds.
This move is expected to give Limelight better control over product quality, reduce production costs, improve supply consistency, and help launch new jewellery collections faster. It will also allow the company to create exclusive designs for customers.
The company is also focusing on expanding its retail network. During the first quarter of FY26, Limelight opened 25 new stores across metro cities and Tier-II markets, taking its total store count to more than 85. With the new funding, the company now plans to increase its network to around 200 stores by 2027.
This is not Limelight’s first successful fundraising. In February 2025, the company had raised around $11 million at a valuation of nearly ₹340 crore. The latest investment shows that investors continue to see strong growth potential in India’s lab-grown diamond industry.
Startup Funding Remains Strong Across Different Sectors
Limelight’s funding was the biggest deal of the day, but several other Indian startups also announced fresh investments on July 1.
Nutrition startup Supply6 raised ₹48 crore in a growth funding round led by Unilever Ventures, with participation from Zeropearl VC. The Bengaluru-based company plans to use the money to expand its products and reach more customers.
Fintech startup Spense secured $2.8 million in seed funding led by Arkam Ventures. The company is building asset-backed credit solutions for Indian banks.
AI startup Data Science Wizards raised $5 million in a Pre-Series A round. The company will use the investment to improve its UnifyAI operating system and expand into North America.
Clean energy startup Celloraa Energy received a strategic investment of ₹160 crore from StarlinePS Enterprises. The funds will be used to set up a 1.2 GW solar cell manufacturing plant in Surat, Gujarat.
Another clean-tech company, Albatross Energetics, raised $1.05 million in a Pre-Series A round led by Transition VC. AI-powered enterprise platform Brekfuz also secured $525,000 in seed funding to support product development and business growth.
In another major business deal, D2C deodorant brand Phitku was acquired by Ananta Capital through the purchase of a majority stake in a deal worth around ₹100 crore. Asset-servicing company Dovetail Capital also entered the institutional funding space by raising ₹100 crore in its first Series A round.
These investments show that investors continue to support Indian startups across sectors such as consumer brands, fintech, artificial intelligence, clean energy, and manufacturing.
UPI Transactions Slow Slightly as BIS Takes Action Against Rule Violations
Apart from startup funding, several important business and economic updates were also reported.
According to the National Payments Corporation of India (NPCI), UPI transaction volumes fell slightly in June 2026. The platform processed 22.72 billion transactions during the month, down from 23.20 billion in May. The total transaction value also declined to ₹28.92 lakh crore.
However, the bigger picture remains positive. Compared to June last year, UPI transaction volume increased by 23%, while the total transaction value grew by nearly 20%, showing that digital payments continue to grow in India despite short-term monthly changes.
In another development, Dream Sports announced that it will shut down its fintech platform, Dream Money, on July 30, 2026. The company said customers’ investments and assets will remain safe with its banking and broking partners.
Gold and silver prices also moved lower during the day. The price of 24-carat gold fell to ₹1,42,170 per 10 grams, while silver dropped to ₹2,25,330 per kilogram due to weak global market trends and a stronger US dollar.
Meanwhile, the Bureau of Indian Standards (BIS) continued its action against jewellery shops that do not follow mandatory hallmarking rules. During inspections in Surat, officials seized nearly 230 grams of allegedly unhallmarked gold jewellery from two stores. The action is part of the government’s efforts to protect consumers and improve quality standards in the jewellery industry.
Overall, July 1 turned out to be an important day for India’s business ecosystem. Limelight Diamonds’ ₹275 crore fundraising was the biggest highlight, while several other startup investments, steady long-term growth in digital payments, and stricter jewellery regulations showed that different sectors of the Indian economy continue to grow and evolve.