Dholakia Lab Grown Diamond Pvt. Ltd. (DLGD) has secured over ₹800 crore in a significant growth funding round led by Abakkus Asset Manager Pvt Ltd, with participation from ICICI Venture, Amal Parikh, and other investors. UBS acted as the exclusive advisor for the deal, marking one of the largest investments in India’s lab-grown diamond space.
The fresh capital will be channelled into expanding manufacturing capabilities, strengthening working capital, and establishing a nationwide retail footprint. Beyond jewellery, the company is also investing in high-precision single-crystal diamonds for advanced applications across optics, quantum computing, semiconductors, and defence technologies.
DLGD operates under the umbrella of the Hari Krishna Group, founded by Savji, Ghanshyam, Himmat, and Tulsi Dholakia. With over three decades in the diamond industry, the group was among the early movers in introducing lab-grown diamonds to leading US retailers back in 2018.
The company runs a fully integrated model—spanning diamond creation to global distribution—supported by in-house technologies such as AI-driven systems and robotic manufacturing. Sustainability remains central, with operations backed by renewable energy and recycled inputs.
Founder Savji Dholakia reflected on the milestone as a moment of pride, especially seeing the next generation scale the business with renewed ambition. CEO Hasu Dholakia highlighted that the funding reinforces confidence in lab-grown diamonds, as global demand rises among both retailers and conscious consumers.
Investors echoed similar sentiment, pointing to a clear shift in consumer preference—particularly among younger buyers—towards ethically sourced and value-driven alternatives. With strong control over its value chain and established global relationships, DLGD is poised to capitalise on this growing demand while scaling responsibly.
