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Mumbai, July 16, 2025 — Solitario Diamonds, India’s most rapidly growing lab-grown diamond luxury brand, has successfully closed a fresh round of funding at a valuation of ₹300 crores. The round brings on board Gautam Budrani, trustee of the Budrani Knowledge Trust and part of the Budrani Group of Hospitals, as a strategic investor, reinforcing the market’s growing belief in Solitario’s purpose-led, modern luxury vision.
The capital raised will drive Solitario’s expansion in the Delhi NCR region, a key growth market for the brand, and fuel investments in retail, inventory, and brand experience across high-potential urban hubs.
“This funding is a strategic step forward in our journey to make Solitario the most trusted name in lab-grown diamond luxury. With Gautam Budrani joining us, we gain not just capital, but a like-minded visionary who believes in our long-term mission to take Indian innovation global.” said Ricky Vasandani, CEO & Founder at Solitario Diamonds.
Gautam Budrani added, “Solitario represents the future of fine jewelry—ethical, elegant, and forward-thinking. Their execution has been exceptional, and I see them becoming a global name in the years to come.”
Founded by Ricky Vasandani and actor-entrepreneur Vivek Oberoi, Solitario is redefining the lab grown diamond jewelry landscape in India by making high-design, ethical solitaires accessible to a new generation of consumers. From its first store in Pune, the brand has expanded its footprint to over 10 flagship stores in India and abroad, including Mumbai, Bangalore, Chennai, Lucknow, and Dubai.
The brand aims to cross ₹200 crore in annual turnover by FY 2026, leveraging a loyal customer base, robust offline presence, and increasing interest in sustainable luxury.
