Shraddha Kapoor-Backed PALMONAS Secures ₹1.26 Cr on Shark Tank India Season 4

Muskaan Kapoor

21 Feb 2025 — 3 min read

Shraddha Kapoor-Backed PALMONAS Secures INR 1.26 Cr on Shark Tank India Season 4

PALMONAS, India’s leading demi-fine jewellery brand, has secured ₹1.26 crore in funding from Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Ritesh Agarwal, Founder of OYO, on Shark Tank India Season 4. The investment, made in exchange for a 1% equity stake, marks a significant achievement for the brand, which has been redefining the affordable luxury jewellery market in India.

PALMONAS’ Pitch Wins Over the Sharks

The pitch by PALMONAS’ founders, Amol Patwari and Pallavi Mohadikar, captured the attention of the investors, who recognised the brand's potential in the fast-growing demi-fine jewellery segment. With the backing of two seasoned entrepreneurs, PALMONAS aims to expand its retail footprint, enhance technological capabilities, and scale its international presence in markets such as the USA, Middle East, and Southeast Asia.

The brand has already gained great popularity with consumers who seek high-quality yet affordable jewellery. Shraddha Kapoor, who joined as a Co-founder in 2024, has played a key role in promoting the brand's visibility and appeal.

Shraddha Kapoor’s Vision for PALMONAS

Expressing her excitement about the brand’s journey, Shraddha Kapoor said, "Jewellery should be like your second skin—easy to wear and effortless. PALMONAS is bringing luxury jewellery to everyone at an accessible price, and I am thrilled to be part of this transformation. With the support of Shark Tank India, we are set to redefine how India wears jewellery."

Strategic Growth Plans

The funds secured will be channelled towards:

Retail Expansion: Establishing exclusive experience stores in major metropolitan cities to strengthen offline presence.
Global Market Penetration: Entering high-potential markets like the USA and the Middle East.
Technology Advancements: Enhancing AI-driven personalisation to offer tailored jewellery recommendations for customers.

Co-founder Amol Patwari highlighted the impact of the funding, stating, "Securing this investment from Namita Thapar and Ritesh Agarwal is a testament to PALMONAS’ vision and the demand for demi-fine jewellery. With Shraddha Kapoor as a Co-founder, we are confident about accelerating our growth and making premium jewellery accessible to a wider audience."

Founders' Journey and Market Potential

PALMONAS was founded with the idea of creating stylish, durable, and affordable demi-fine jewellery using surgical-grade stainless steel plated with 18k gold. This innovative approach has allowed the brand to carve a niche in the jewellery market.

The global demi-fine jewellery market was valued at $3.33 billion in 2024 and is expected to grow to $3.59 billion in 2025. PALMONAS aims to capitalise on this trend by expanding its product range and leveraging Shraddha Kapoor’s influence to reach a broader audience.

A New Chapter for PALMONAS

Pallavi Mohadikar, Co-founder of PALMONAS, summed up the brand’s aspirations: "Shark Tank India was more than just funding; it was about showcasing the potential of demi-fine jewellery in India. With this investment and mentorship from Namita and Ritesh, we are prepared to take PALMONAS to the next level."

With five retail stores launched in just three months and a fresh infusion of funds, PALMONAS is poised for exponential growth. As it continues to bridge the gap between fine and fashion jewellery, the brand remains committed to making luxury accessible to all.