Priyanka Gill, the co-founder of the Good Glamm Group who had joined early-stage venture capital firm Kalaari Capital as a venture partner in February last year, has now left the VC firm to start her own company.
Gill, who previously founded media venture POPxo, has now launched Coluxe and raised funding from some angel investors, according to a press statement. It didn’t disclose the investors’ names or the amount it raised.
Coluxe is a lab-grown diamond and gemstone jewellery brand which will take on an omnichannel approach to sales. It will sell solitaire rings, pendants, earrings, tennis bracelets and necklaces across thematic collections.
The platform will focus on setting new global standards for sustainable and ethical luxury, according to a social media post by Gill. It will also provide AI-powered virtual try-on facility to customers.
Gill previously founded digital media venture POPxo about a decade ago. POPxo raised funding from VC firms Kalaari Capital and IDG Ventures (now Chiratae Ventures), among others. It was acquired by the Good Glamm Group in 2020. With the acquisition, Gill was appointed as a co-founder of Good Glamm and led its media and content business.
Gill stepped away from an active role at Good Glamm to join Kalaari Capital last year. At that time, she was elevated as the chairperson of Good Media Co, a subsidiary of Good Glamm that also houses brands like POPxo, ScoopWhoop, BabyChakra, and MissMalini Entertainment.
At Kalaari, Gill was advising the Bengaluru-based VC firm’s direct-to-consumer portfolio companies on brand, growth, and marketing. She was also leading CXXO, a Kalaari Capital initiative focussing on helping female founder-CEOs scale.
Gill recently completed her joint MBA from the Columbia Business School and London Business School. She is also an alumnus of King’s College London and the Lady Shri Ram College for Women, Delhi University.
Gill’s new venture comes at a time when demand for lab-grown diamonds is rising in India and globally. A few homegrown startups in the segment have already raised capital from investors to cater to the rising demand.
For instance, lab-grown diamond jewellery brand Limelight Lab Grown Diamonds Ltd raised about $11 million (Rs 90 crore) from fund houses and broking firms earlier this month. Last year, lab-grown jewellery brand Aukera raised Rs 26.7 crore in its Series A round led by Fireside Ventures. Fionaa Diamonds, Giva and Bluestone are also expanding their presence in the lab-grown diamond segment.