Pune-based direct-to-consumer (D2C) jewellery brand Palmonas is poised to raise ₹55 crore in its Series A funding round, led by Vertex Ventures. This marks the company’s second funding initiative in 2025, following its appearance on Shark Tank India Season 4.
Key Highlights:
- Funding Details: Vertex Ventures is leading the ₹55 crore Series A round, valuing Palmonas at a post-money valuation of ₹550 crore (approximately $65 million).
- Founders: Established in 2022 by Amol Patwari and Pallavi Mohadikar, Palmonas specializes in demi-fine jewellery crafted from stainless steel with 18k gold vermeil coating.
- Previous Investments:
- In February 2025, Palmonas secured ₹1.26 crore on Shark Tank India Season 4 from investors Namita Thapar and Ritesh Agarwal, at a post-money valuation of ₹126 crore.
- Prior to this, the brand raised ₹6 crore in an angel funding round.
- Celebrity Association: In March 2024, Bollywood actress Shraddha Kapoor joined Palmonas as a co-founder, enhancing the brand’s visibility and appeal.
- Financial Performance:
- For the fiscal year ending March 2024, Palmonas reported operating revenue of ₹5.38 crore, up from ₹3.83 crore in FY23.
- The company recorded losses of ₹1.24 crore in FY24.
- Investor Background: Vertex Ventures closed its fifth fund at $541 million in 2023, focusing on investments from pre-Series A to Series B stages. Its recent investments include companies like SpotDraft, Spyne, and D2C electronics brand Nuuk.
