India, Aug. 25 -- Demi-fine jewellery startup Palmonas has raised INR 55 Cr (around $6.2 Mn) in a Series A funding round led by Vertex Ventures Southeast Asia & India (SEAI).

It plans to use the fresh capital to strengthen its 9kt gold demi-fine collection, open 100 new stores in the next 12 months and expand into newer categories.

Palmonas' CEO and cofounder Pallavi Mohadikar said, "This funding will allow us to double down on that promise: more innovation, more designs, and a seamless shopping experience across every touchpoint."

Founded in 2022 by Mohadikar and Amol Patwari, with Shraddha Kapoor later joining as cofounder, Palmonas is a direct-to-consumer jewellery brand specialising in demi-fine jewellery made from surgical stainle...