Hari Krishna Group’s DLGD Secures Record Lab-Grown Diamond Funding
On April 29, Dholakia Lab Grown Diamond (DLGD), India’s leading lab-grown diamond enterprise, announced the completion of a growth round of financing exceeding 8 billion Indian rupees (approximately $83.6 million). This landmark Lab-Grown Diamond Funding round was led by Abakkus Private Equity, with participation from Amal Parikh and multiple renowned institutions. UBS served as the exclusive financial advisor for the transaction, marking one of the largest growth-stage investments in India’s lab-grown diamond industry to date.
Use of Proceeds from the Lab-Grown Diamond Funding Round
The proceeds from this Lab-Grown Diamond Funding will focus on three core areas: expanding production capacity for lab-grown diamonds and synthetic diamonds, replenishing working capital, and rolling out a nationwide offline retail network across India. Additionally, the company will ramp up R&D for high-precision single-crystal diamonds in optical, quantum, and thermal fields, expanding applications in high-value sectors such as defense, semiconductors, and deep tech.
DLGD: A Veteran Player Backed by Strong Industry Heritage
A subsidiary of India’s diamond giant Hari Krishna Group, DLGD was founded by Savji Dholakia and family members, boasting 33 years of industry expertise and standing as one of the world’s earliest pioneers in lab-grown diamonds. The company claims it introduced lab-grown diamonds to mainstream U.S. retail channels as early as 2018.
DLGD operates a full-industry chain closed loop spanning crystal growth, cutting and polishing, jewelry design and manufacturing, to global brand distribution. Leveraging in-house growth technology, robotic manufacturing, AI-driven design, and a low-inventory customization system, DLGD delivers personalized on-demand production services to retailers. Its entire production process relies on renewable energy and recycled metals, reinforcing its sustainability edge—an advantage amplified by the recent Lab-Grown Diamond Funding.
Leadership’s Take on the Lab-Grown Diamond Funding
Group founder Savji Dholakia stated that this Lab-Grown Diamond Funding reflects strong recognition of the new-generation management team and the company’s strategic vision. CEO Hasu Dholakiya noted that global retailers and luxury brands are increasingly investing in lab-grown diamonds, and the capital from this Lab-Grown Diamond Funding will enable responsible, innovative, and large-scale expansion.
Investor Perspective on the Lab-Grown Diamond Funding Opportunity
Investors highlighted that demand for lab-grown diamonds is surging, driven by younger consumers’ pursuit of quality, ethical sourcing, and cost-effectiveness. DLGD’s full-industry chain control and global customer resources form its core competitive moat. Backed by this transformative Lab-Grown Diamond Funding, the company is poised to take a leading position in the global sustainable luxury wave and boost the global competitiveness of India’s lab-grown diamond industry.
