PALMONAS Raises INR 1.26 Cr from Namita Thapar & Ritesh Agarwal; Shraddha Kapoor Joins as Co-founder With the fresh funds, PALMONAS aims to expand offline retail with exclusive stores in major cities and enter global markets like the US, Middle East, and Southeast Asia, while investing in AI-driven personalised jewelry recommendations.

Bollywood actress Shraddha Kapoor has made a striking entry into the business world by joining PALMONAS, a pioneering demi-fine jewelry brand, as a Co-founder. This move comes as the brand secures INR 1.26 crore in funding for a 1% equity stake from Shark Tank India Season 4 investors Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Ritesh Agarwal, Founder of OYO. The funding was successfully raised by PALMONAS' founders, Amol Patwari and Pallavi Mohadikar.

PALMONAS' pitch on Shark Tank India captivated both investors, who were drawn to the brand's innovation and growth potential. Their investment signals strong confidence in PALMONAS' ability to revolutionise the demi-fine jewelry industry.

With this fresh infusion of capital, the brand is set to scale its offline retail operations by launching exclusive experience stores in major metropolitan cities. Additionally, PALMONAS is eyeing international expansion, targeting high-growth markets such as the US, Middle East, and Southeast Asia. A portion of the funding will also be directed towards AI-driven personalization technology, enhancing customer experience by curating jewelry recommendations tailored to individual preferences.

Shraddha Kapoor said, "Jewelry should feel like your second skin—something effortless and expressive. PALMONAS is redefining luxury by making it affordable and accessible. With the support of Shark Tank India and our new investors, we are set to revolutionise the way India wears jewelry."

Co-founder Amol Patwari stated, "Securing this funding from Namita Thapar and Ritesh Agarwal is a testament to PALMONAS' potential. With Shraddha Kapoor now as a Co-founder, we are poised for exponential growth, making premium demi-fine jewelry accessible to a wider audience."

Pallavi Mohadikar, the brand's co-founder, added, "Shark Tank India wasn't just about funding—it was about educating India on the importance of demi-fine jewelry. With Shraddha's influence and our investors' mentorship, we are set to scale new heights."

Founded in Pune, PALMONAS offers a contemporary collection of demi-fine jewelry crafted from sterling silver, stainless steel, and gold vermeil. With five retail stores launched in just three months and strong investor backing, PALMONAS is rapidly expanding to dominate the demi-fine jewelry market.