Shraddha Kapoor-Backed PALMONAS Secures Rs 1.26 Crore on Shark Tank India!
Demi-fine jewellery brand PALMONAS, co-founded by actress Shraddha Kapoor, has raised Rs 1.26 crore from Shark Tank India Season 4 investors Namita Thapar and Ritesh Agarwal. The brand aims to expand its retail stores, collections, and market presence in India and globally.
04:25 PM Feb 22, 2025 IST
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Aakash Khuman
PALMONAS, a fast-growing demi-fine jewellery brand, secured Rs 1.26 crore for a 1% equity stake on Shark Tank India Season 4. The investment came from Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Ritesh Agarwal, Founder of OYO. The funding deal was successfully closed by the brand’s founders, Amol Patwari and Pallavi Mohadikar.
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Shraddha Kapoor ’s Role in PALMONAS’ Growth
Since joining as a co-founder in 2023, Bollywood actress Shraddha Kapoor has played a crucial role in expanding PALMONAS’ reach. The brand is focused on making luxury jewellery affordable while ensuring high-quality designs that suit modern fashion trends.
Plans for Expansion and Innovation
The fresh investment will help PALMONAS expand its offline presence, grow internationally in markets like the US, Middle East, and Southeast Asia, and integrate AI-driven personalization into its product offerings. The brand has already launched five retail stores within three months, signaling rapid growth.
Co-Founders Share Their Vision
PALMONAS’ co-founders are optimistic about the brand’s future with this new funding:
- Amol Patwari, Co-founder of PALMONAS: "This investment validates our vision of making premium jewellery accessible to all. With Shraddha Kapoor’s influence and the mentorship of Namita and Ritesh, we are ready to take PALMONAS to new heights."
- Pallavi Mohadikar, Co-founder of PALMONAS: "Shark Tank India was not just about funding; it was an opportunity to showcase the value of demi-fine jewellery. We are excited to expand our product line, strengthen our retail presence, and innovate further."
Redefining the Jewellery Market in India
PALMONAS is revolutionizing the jewellery industry by offering stylish and high-quality pieces at affordable prices. The company is focused on reaching a wider audience and strengthening customer engagement through influencer marketing and strategic retail expansions.
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