Investment Memo: Jewelbox

Date: 28th January, 2025

Stage: Pre Series A/Series A

About the company: Conscious luxury brand selling lab grown jewelry via retail store fronts

Why I am investing

• Solid Team - CA x 2 , Swiggy, ISB, Brother sister duo
• Growing TAM
  • India - $0.45B in FY 23-24 to $1.20B by FY 30-31 - CAGR 14.8%
  • Global - $24B in 2022 to $59.2B by 2032 - CAGR 14.8%
• Supply chain moat
  • India contributes to 15% of global lab grown diamond production
  • Strong quality measures - Sister stays in Surat (hub for diamond production)
• Why lab grown
  • Cheaper
  • Can barely make out the difference
  • Sustainable
• Good execution
  • FY 24 ARR - X CR
  • Delhi, Kolkata and Chennai
  • Got all shark deal on Shark Tank which they did not take
• Future plans
  • X COCO stores
  • X FOCO stores
  • Total - X stores before next funding round
  • Upcoming locations - Guwahati, Chennai, Gurgaon, Delhi and Bangalore

PS: X is confidential numbers, which are not being shared publicly