Written By Puja Bhardwaj
Palmonas, a “demi-fine” jewellery brand, led by Shraddha Kapoor, has grown to 60 stores. This is something most retail brands find hard to achieve. Shraddha Kapoor is not only gaining recognition for her acting skills but also making big moves in the business world.
As reported, every store is profitable. In April 2026, the brand raised ₹373 crore in a Series B round. It also elevated a notable performance in FY25, with revenue reaching around ₹39 crore and a net profit of ₹4.3 crore. 
Palmonas came into existence four years ago, and soon it had grown through an omnichannel strategy with the combination of online sales and offline retail expansion. The brand has obtained such massive attention because of earning profits while scaling, which is rare in consumer retail. 
Palmonas’ journey reflects how branding, retail expansion, and understanding customer demand can convert a celebrity-backed venture into notable business growth.
More about Palmonas
Palmonas was founded in 2022 by Pallavi Mohadikar and Dr Amol Patwari. It works in the smart middle ground between cheap fashion jewellery and premium gold.
Palmonas crafts beautiful pieces from surgical stainless steel and sterling silver with an 18K gold vermeil finish. The products from the brand seem like gold, but they last in real life. Palmonas operates as an omnichannel retail structure to sell through its website; digital marketplaces such as Amazon India, Myntra, and quick commerce sites like Blinkit; and the expanding network of physical stores.
The brand focuses mainly on growing cities like Mumbai, Delhi, Bengaluru, Hyderabad, and Pune. Its expansion strategy also includes cities like Aurangabad and Bhagalpur, with around 60% in malls, 40% on streets, and some in airports.
In March 2024, the popular Bollywood actor Shraddha Kapoor got associated with PALMONAS. She joined the brand as a co-founder instead of just a brand ambassador. This marks a notable achievement.
Shraddha Kapoor has a solid social media presence; she holds over 94 million Instagram followers, and she is one of the most-followed Indians on the platform. When she shared about PALMONAS, she wanted to promote and do a paid campaign, but she was talking about her own brand. Plus, the brand earns excellent organic traffic that most brands pay crores for. Money can never replace this authenticity.
By March 2025, the company reported a major increment in revenue, with revenue rising from around INR 1 crore to INR 39 crore, earning a profit of INR 4.3 crore. This performance showed a significant growth from a loss in the previous year.
Funding at Palmonas
From the beginning, PALMONAS has been on the speed and structure of its rise. The brand successfully raised ₹1.26 crore from Namita Thapar and Ritesh Agarwal in February 2025 on Shark Tank India to a $40M Series B within a year.
Xponentia Capital, a Mumbai‑based private equity and growth investor, led the latest funding round and co‑led this funding round with a focus on mid‑market companies.
PwC India works as a financial advisor, acting as the exclusive advisor to Palmonas during the Series B fundraise. As reported, the brand plans to use the fund to expand the brand’s physical retail footprint, expand the team and involve innovation mainly in the nine-carat gold segment with lab-grown diamonds, a fast-growing category amid surging gold prices and new hallmarking norms.
The rising social media engagement and digital payments have increased awareness for brands offering top-notch jewellery at affordable costs.
This success path paints a clear picture of how success takes place: the fundamental efforts, the demand is real, and the team understands execution.
