India, April 1 -- Jewellery startup Palmonas has secured $40 Mn (Rs.373 Cr) in a Series B funding round led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Ventures SE Asia & India.

In a post on LinkedIn, PwC India announced that it served as exclusive financial advisors to Palmonas on their $40 Mn Series B fundraise. The startup hasn't officially disclosed the amount of the funds netted or their intended use. 

In a post on LinkedIn, cofounder and actor Shraddha Kapoor said that the intended use of the fresh capital would be to expand the startup's offline presence. 

"With just 60 stores, a significant chunk of our revenue already comes from retail. Over the next 12 months we inte...