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Palmonas
Jewellery · Demi-fine
Series BIndia
HQPune, India
Founded2022
FoundersPallavi Mohadikar, Dr. Amol Patwari, Shraddha Kapoor
RegionIndia
Financials
FY24 Revenue₹0.97 Cr (FY24)
FY25 Revenue₹39 Cr (FY25) — ~40× YoY
YoY growth~40× FY25 vs FY24
Profitabilityprofitable
Channels & Distribution
D2C · 60%Offline · 40%
D2C60%
Marketplace—
Offline40%
Stores—
Tech stack
Primary stackShopify
Shopify share85%In-house: 15%
Mobile appYes
Stack signals
Shopify (likely)AI-led catalog & forecastingRazorpayWhatsAppMeta Ads
Analyst notes
Demi-fine D2C founded 2022 in Pune. Shraddha Kapoor joined as co-founder March 2024 post-Shark Tank India. FY25 ₹39 Cr (~40× FY24) with ₹4.3 Cr PAT. Raised $40M Series B Apr 2026 (Xponentia + Vertex). 60/40 digital-offline; 50 stores planned.
Confidence: verifiedVerified 5 Jun 2026
Funding
Latest roundSeries BApr 2026
Round size$40M (~₹373 Cr)
Total raised~₹435 Cr+
Valuation~₹1,950 Cr (~$217M) post-moneyApr 2026
Investors
Xponentia CapitalVertex Growth FundVertex Ventures SEA & India
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