Dholakia Lab Grown Diamond

What Dholakia Lab Grown Diamond does

Dholakia Lab Grown Diamond Pvt Ltd (DLGD) is the lab-grown diamond arm of the Surat-based Hari Krishna Group, a family-owned diamond conglomerate founded in 1993. DLGD operates a vertically integrated supply chain spanning CVD (Chemical Vapor Deposition) rough diamond growing and cutting in Surat, Gujarat; jewelry design and manufacturing via its wholly-owned subsidiary Dholakia Jewels Pvt Ltd (DJPL) in Mumbai's SEEPZ SEZ; and commercial operations from its US headquarters in East Rutherford, New Jersey. The company employs 251-500 staff and supplies lab-grown diamonds to 100+ retailers and brands across 25+ countries, having introduced the category to major US retailers as early as 2018.

The core product is solar-powered CVD lab-grown rough and polished diamonds, which are physically, chemically, and optically identical to mined diamonds but priced approximately 40% lower and produced in 2-8 weeks versus geological timescales. Manufacturing is powered by a 12.5MW captive solar plant commissioned in July 2024, reducing grid electricity dependence by 90%. Proprietary capabilities include a refined CVD process with predictable color and clarity outputs, robotic jewelry manufacturing, AI-assisted design, and an inventory-light configurator enabling made-to-order personalization for retail partners. Quality is independently graded by GIA, IGI, GSI, and GCAL, and the operation is certified under SCS Global Services' SCS 007 standard for climate neutrality and origin traceability.

The business model is hybrid: wholesale rough and polished diamond supply to diamond dealers, cutters, polishers, and jewelry manufacturers (B2B); finished jewelry manufacturing for retailers under DJPL's 17-step process; and an emerging direct-to-consumer channel via Craft Diamonds (e-commerce), Dholakia Retail, and premium sub-brands Revelation Diamonds and Rãavelation. Revenue is not publicly disclosed. The April 2026 ₹800+ crore (~$84M) growth-stage round led by Abakkus PE and ICICI Ventures IAF5, at a ~₹4,000 crore post-money valuation, is being deployed to scale production, expand pan-India physical retail, and advance precision single-crystal diamond applications in defence, semiconductor, optical, quantum, and thermal domains — an emerging industrial vertical beyond consumer jewelry.

Name

Dholakia Lab Grown Diamond

Legal name

Dholakia Lab Grown Diamond Pvt Ltd (DLGD)

Website

https://dholakia.co

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Dholakia Lab Grown Diamond is a vertically integrated manufacturer of solar-powered CVD lab-grown diamonds and finished jewelry, supplying 100+ retailers and brands across 25+ countries via its Surat and Mumbai operations and US headquarters.

Ownership category

akta.pro rank

Product category

Lab-Grown Diamond Manufacturing

NAICS

Cut Stone and Stone Product Manufacturing (327991)

SIC

Cut Stone & Stone Products (3281)

akta.pro primary industry

Synthetic/Lab-Grown Diamonds & Gemstones (Manufacturing & Trading) (CRAKAJAM)

akta.pro secondary industries

Diamond Cutting & Polishing (Manufacturing) (CRAKAJAA), Rough Diamond Trading & Brokerage (CRAKAJAC)

Keywords

• Lab-grown diamonds
• CVD diamond manufacturing
• Diamond jewelry wholesale
• Solar-powered diamonds
• Rough diamond supply

Headquarters

HQ city

Surat

HQ country

India

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Lab-Grown Diamond Wholesale: B2B wholesale of lab-grown diamonds to retailers and brands worldwide. DLGD sells rough and polished diamonds to diamond dealers, cutters, polishers, and jewelry manufacturers. Serves 100+ retailers across 25 countries.
2. Lab-Grown Diamond Jewellery: Manufacturing and sale of finished lab-grown diamond jewelry through Dholakia Jewels Pvt Ltd (DJPL). The 17-step manufacturing process produces jewelry from sketching to shipment.
3. Direct-to-Consumer Retail: Pan-India physical retail expansion planned with proceeds from ₹800 crore funding. Operating Craft Diamonds e-commerce brand and Dholakia Retail division for direct consumer sales.
4. Deep-Tech/Industrial Diamond Applications: Development and potential sale of precision single-crystal diamonds for defence, semiconductor, optical, quantum, and thermal applications.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Dholakia Lab Grown Diamond (DLGD) is a vertically integrated manufacturer of lab-grown rough and polished diamonds produced via the Chemical Vapor Deposition (CVD) process using solar power, with cutting and polishing operations in Surat, India. Its sister company Dholakia Jewels Pvt Ltd (DJPL) converts those stones into finished jewelry through a 17-step manufacturing process in Mumbai. The company sells loose lab-grown diamonds and finished jewelry to retailers, dealers, and end consumers across 25+ countries.

Product overview

Dholakia Lab Grown Diamond operates a vertically integrated portfolio spanning lab-grown diamond manufacturing (DLGD), jewelry creation (DJPL), technology innovation (Dholakia Technologies LLP), retail (Dholakia Retail), and multiple consumer brands (Craft Diamonds, Revelation Diamonds, Rêvelation, Imperial Jewels). The core offering is DLGD's lab-grown diamonds produced via CVD process using solar power, which feed into DJPL's jewelry manufacturing operations. The company controls the entire supply chain from rough diamond growing in Surat, cutting and polishing, jewelry manufacturing in Mumbai, to global retail distribution across 25+ countries serving 100+ retailers and brands.

Differentiator

Problem solved

Functional benefit

Brands

• Rêvelation: A premium lab grown diamond brand offering high-quality diamonds for discerning customers. The brand represents a choice for better world with ethical integrity merged with unparalleled beauty and a sustainable future.

Products and services

• Lab-Grown Rough and Polished Diamonds (DLGD) Vertically manufactured loose lab-grown diamonds (rough and polished) produced via Chemical Vapor Deposition (CVD) using solar power; supplied wholesale to diamond dealers, cutters, polishers, and jewelry manufacturers.
• Lab-Grown Diamond Jewelry (Dholakia Jewels Pvt Ltd / DJPL)

Quantifiable outcome

• 90% reduction in grid electricity dependence through 12.5MW solar plant
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• GIA (Gemological Institute of America)coreTechnology or IntegrationCertification partner for diamond grading using the 4Cs criteria (Cut, Color, Clarity, Carat).
• IGI (International Gemological Institute)coreTechnology or IntegrationCertification partner for diamond grading using the 4Cs criteria.
• GSI (Gemological Science International)coreTechnology or IntegrationCertification partner for diamond grading and authenticity verification.
• ISOQARcoreTechnology or IntegrationQuality certification partner for manufacturing processes.
• GCALcoreTechnology or IntegrationDiamond certification partner providing independent grading and verification services.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Clean Origin: Pure-play lab-grown diamond jewelry retailer offering engagement rings and fine jewelry. Comparable consumer proposition and dependent on wholesale lab-grown supply similar to DLGD's B2C brands.
• Diamond Foundry: US-based vertically integrated lab-grown diamond producer using CVD, selling to retailers and through its own VRAI brand. Closest analog to DLGD's CVD-to-jewelry vertical model with strong sustainability positioning.
• MiaDonna: Lab-grown diamond and moissanite fine jewelry brand emphasizing ethical sourcing. Comparable in positioning around sustainable, traceable lab-grown diamonds targeting conscious consumers.
• Brilliant Earth: Online-first jewelry retailer focused on ethically sourced diamonds with a strong lab-grown assortment. Comparable as a vertically minded lab-grown diamond retailer competing for the same consumer and channel partner mindshare.
• ALTR Created Diamonds: Lab-grown diamond producer and branded jewelry maker using CVD technology. Directly comparable as a CVD-based grower with branded finished jewelry, smaller scale than DLGD but same product overlap.
• WD Lab Grown Diamonds: US-headquartered lab-grown diamond grower and wholesaler supplying retailers and brands. Directly comparable as a CVD-based B2B lab-grown diamond supplier with retailer relationships.

Broad incumbents

• Pandora: Global mass-market jewelry retailer that announced a shift to lab-grown diamonds for its core collections. Comparable as a large-scale retailer and brand shaping consumer perception of lab-grown jewelry.
• Swarovski (Created Diamonds): Global jewelry and crystal incumbent with a Created Diamonds line and proprietary lab-grown technology. Comparable as an established jewelry brand entering lab-grown, leveraging far broader retail reach than DLGD.
• Bhansali Cables & Conductors (not peer - replace) Signet Jewelers: Largest jewelry retailer globally (Kay, Zales, Jared), publicly committed to expanding lab-grown assortments. Comparable as the anchor retail channel for lab-grown supply similar to DLGD's US retailer relationships.
• De Beers (Lightbox Jewelry): Lab-grown jewelry brand from De Beers Group, the world's largest diamond miner. Comparable lab-grown consumer offering backed by a dominant natural-diamond incumbent with unmatched distribution and marketing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dholakialabgrowndiamond

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dholakia Lab Grown Diamond