Palmonas

Overview

Palmonas is a pioneering demi-fine jewelry brand based in Pune, India, co-founded in 2022 by actors Shraddha Kapoor, Amol Patwari, and Pallavi Mohadikar, who also serves as CEO. The company specializes in design-led, high-quality jewelry accessible to modern consumers. As of 2025, Palmonas has raised approximately ₹55 crore in Series A funding with plans to expand significantly within India and globally, particularly aiming to make everyday luxury jewelry a household staple.

Recent Developments

August 2025: Palmonas raised ₹55 crore ($6.3 million) in a Series A funding round led by Vertex Ventures Southeast Asia & India. The investment will primarily be used to grow its retail presence across India, aiming for 100 new stores in the next year, and to enhance their collection of 9kt gold demi-fine jewelry. This round follows Palmonas's previous fundraising achievements, including backing from Shark Tank India, which valued the company at ₹126 crore.
March 2024: Actress Shraddha Kapoor joined as a co-founder, adding to the brand’s recognition and broader appeal. Her involvement bolstered Palmonas's vision and market strategy.
February 2025: Shraddha Kapoor participated in a unique customer engagement session as a customer service representative to collect direct feedback and foster customer relations, emphasizing the company's commitment to customer satisfaction.
July 2025: Palmonas paused its buy-back program for demi-fine jewelry on June 10, 2025, but maintained support for purchases made before this date.

Attribute	Information
Founding Date	2022
Headquarters	Pune, India
Founders	Pallavi Mohadikar, Amol Patwari, Shraddha Kapoor
Revenue	$650K (as of March 2024)
Key Investors	Vertex Ventures SEA & India, Namita Thapar, Ritesh Agarwal
Industry	Demi-fine Jewelry
Number of Employees	22 employees (April 2025)

Early History

Palmonas was founded in 2022 with the aim of bridging the gap between fast fashion and fine jewelry, providing consumers with high-quality, skin-safe pieces that serve everyday needs. Within a short period, the company launched its first collection and started gaining traction rapidly. The brand quickly positioned itself in the Indian market as a leader in the demi-fine category, renowned for its waterproof and hypoallergenic designs crafted using premium metals and a gold vermeil finish. Palmonas's rapid growth was characterized by strategic funding and expansion plans that appealed to a highly engaged consumer base.

Company Profile and Achievements

Palmonas operates with a direct-to-consumer (D2C) model, specializing in skin-safe, waterproof demi-fine jewelry made using surgical-grade stainless steel, sterling silver, and 18k gold plating. Key components include:

Business Model: A focus on building a robust online and physical retail presence, catering to a growing demand for everyday luxury jewelry.
Product Offerings: Includes necklaces, rings, bracelets, earrings, and accessories that combine aesthetic appeal with durable materials. The introduction of lab-grown diamonds has added an innovative edge to their product lines.
Achievements: Secured over 6.5 lakh orders since inception, establishing a strong base of repeat customers. Palmonas has successfully garnered a significant following due to its commitment to quality and customer experience.

Current Operations and Market Position

Palmonas is reinforcing its market position through strategic retail expansions and innovative product offerings. With 25 operational stores, the brand is using its latest funding to increase its retail footprint significantly. The company targets Gen Z and millennial consumers seeking stylish yet accessible jewelry options. Palmonas actively competes with established players such as GIVA and BlueStone, focusing on affordable, design-centric offerings that emphasize everyday usage over traditional, occasion-specific wear.

Conclusion

Palmonas continues to redefine the jewelry landscape in India by making demi-fine pieces part of the daily lives of the modern consumer. With strategic investments and an aggressive expansion plan, it seeks to further establish itself as a leader in the market. The brand's innovative use of materials and its focus on customer experience position it well for continued growth both domestically and internationally, as it aims to bring everyday luxury to a global audience.