Demi-fine jewellery brand PALMONAS has raised Rs 1.26 crore for a 1% equity stake on Shark Tank India Season 4 from investors Namita Thapar, Executive Director of Emcure Pharmaceuticals, and Ritesh Agarwal, Founder of OYO. The investment was secured by the brand’s founders, Amol Patwari and Pallavi Mohadikar.
PALMONAS, which onboarded actor Shraddha Kapoor as a co-founder in 2023, plans to use the funding for offline expansion, international growth in markets such as the US, Middle East, and Southeast Asia, and technology development, including AI-driven personalization.
“Jewellery should be like your second skin—something you don’t have to overthink. Whether it’s stacked minimal rings or bold silver chokers, Palmonas is for everyone who loves expressing themselves without limits. PALMONAS is making luxury jewellery affordable and accessible, and I couldn’t be more excited to be a part of this journey. With the support of the Shark Tank India platform, we are set to redefine the way India wears jewellery.”
“Securing this funding on Shark Tank India Season 4 from Namita Thapar and Ritesh Agarwal is a testament to the immense potential of PALMONAS. Pallavi and I have worked relentlessly to build a brand that resonates with consumers, and this investment will allow us to push boundaries further. With Shraddha Kapoor now as a Co-founder, we are poised to accelerate our growth and make premium jewelry accessible to a wider audience. The trust in our vision reinforces our commitment to bringing high-quality, stylish, and affordable demi-fine jewelry to every household,” Co-founder of PALMONAS Amol Patwari on securing the Investment said.
“Shark Tank Indian Season 4 wasn’t just about raising funds—it was about showing India what demi-fine jewellery is and why it matters. This is just the beginning. This funding marks an exciting new chapter for PALMONAS. Amol and I are dedicated to expanding our product range, strengthening our digital and retail presence, and investing in innovation. Having Shraddha Kapoor on board gives us an incredible advantage in connecting with a wider audience. Additionally, Namita and Ritesh’s mentorship and expertise add to our strength. We are ready to take PALMONAS to the next level and redefine the demi-fine jewelry industry in India,” says Founder Pallavi Mohadikar of PALMONAS.
In two years, PALMONAS has grown from an idea to a jewellery brand. With five retail stores launched in three months and backing from Shark Tank India Season 4 investors Namita Thapar and Ritesh Agarwal, the brand is expanding. With this infusion of funds, PALMONAS plans to expand its collections, strengthen customer engagement, and leverage Shraddha Kapoor’s influence to reach a wider audience.