Jewellery startup Nuyug has raised ₹2.5 crore in a pre-seed round led by venture capital firm AJVC, with participation from strategic angel investors. The brand, founded in August 2024 by Ankur Dua and Manali Thareja, is positioning itself in India’s mass-premium jewellery segment, a space that sits between imitation and fine jewellery.
The company said the fresh capital will be deployed to expand sales channels, invest in design-led innovation, and broaden its product portfolio aimed at weddings, festivals, and social gatherings.
In less than a year since launch, Nuyug claims to have achieved an annual revenue run rate of ₹1 crore within eight months. Its catalogue has already crossed 400 designs, with pieces designed to reflect India’s diverse cultural and regional aesthetics. Unlike conventional imitation jewellery, Nuyug’s collections emphasise skin-safe, non-fading gold tones that appeal to consumers seeking both affordability and durability.
“The category has long suffered from poor quality and a broken supply chain. We want Nuyug to be the brand that today’s Indian woman can trust for stylish, safe and celebration-ready jewellery,” said co-founder Ankur Dua.
The brand operates through its direct-to-consumer platform and is also present on major online marketplaces such as Myntra, Nykaa Fashion and Amazon, giving it access to digitally savvy shoppers across metros and Tier-2 cities.
Lead investor AJVC, founded by Aviral Bhatnagar, has been actively backing early-stage ventures with scalable growth models. Its portfolio includes Mithila Foods, an FMCG company rooted in Bihar-origin products.
India’s jewellery market is estimated at over $80 billion, dominated by legacy players and traditional supply chains. Startups like Nuyug are now betting on design innovation and digital-first distribution to win younger consumers who see jewellery as both fashion and investment.
