Series B · Consumer
Palmonas raises $40 million Series B for jewellery expansion
Xponentia Capital and Vertex Growth co-lead the round, with Vertex Ventures SEA & India returning.
Palmonas announced a $40 million Series B round on April 1, 2026, co-led by Xponentia Capital and Vertex Growth Fund. Existing investor Vertex Ventures SEA & India also participated.
The Pune-based jewellery brand plans to scale operations, strengthen its brand and expand its product range. It sells demi-fine jewellery through its website, online marketplaces and physical stores.
The financing follows an INR550 million Series A announced in August 2025. The company’s later reference to roughly $47 million raised reflects funding across rounds.
Use of funds
Operations scale-up
Brand development
Product expansion
Funding history
Series B · This round$40M
Series A₹550M