What Happened to JewelBox After Shark Tank India?

JewelBox is a lab-grown diamond jewelry brand that provides a range of products including rings, pendants, bracelets, and more.

More About JewelBox

JewelBox allows people to buy diamond jewelry at a much lower price compared to natural diamonds. They work with lab-grown diamonds that are created in a laboratory setting rather than being mined from the Earth’s crust. Just as jewelers offer buyback on natural diamonds, Jewelbox offers buyback on Lab Grown Diamonds too. Jewelbox offers 80% buyback on Lab Grown Diamonds.

Founders of JewelBox

Nipun Kochar and Vidita Kochar are the co-founders of JewelBox, a lab-grown diamond jewelry brand.

JewelBox Shark Tank Pitch and Updates

Nipun Kochar and Vidita Kochar appeared on Shark Tank India season 3 and shared details about their lab-grown diamond brand JewelBox.

The founders started their pitch by sharing more details about lab-grown diamonds and how they are prepared. As per the founders, their diamonds are certified by the International Gemological Institute and the Gemological Institute of America. They prepare fine jewelry from these diamonds for everyday and occasion wear.

As per the founders, the underwears designed by 2Ballz keep the male organ and testicles separate from the body in a pouch. By doing so, the organs are at a lower temperature allowing them to be in a better mode. Their underwears are made with modal fabric which makes them comfortable, airy, and antimicrobial.

They sell their products through their website and experiential stores.

After that initial pitch, the founders demanded INR 1 Crore for 2% equity at a valuation of INR 50 crores.

After that, the Sharks started asking various questions about their brand:

• Ritesh Agarwal asked the founders about their backgrounds and career paths.
• As both of the founders were Chartered Accountants, Radhika Gupta asked how they entered the diamond business from there.
• Aman Gupta asked them about the difference between their diamond and natural diamonds and how they both differ.
• Vineeta Gupta told them that their branding and logo look very similar to another big brand and why they chose such a branding.
• Peyush Bansal asked them about their roles and business processes with the organization.

After all the discussions, the founders received multiple investment offers from all the Sharks. They requested the founders to come together in a combined offer and the Sharks accepted the request. JewelBox became the first all-sharks deal of season 3 Shark Tank India.

JewelBox secured a funding deal of INR 2 Crores for 6% equity at a valuation of INR 33.33 crores from Aman Gupta, Radhika Gupta, Peyush Bansal, Vineeta Gupta, and Ritesh Agarwal.

Frequently Asked Questions About JewelBox

After their appearance on Shark Tank India Season 3, people tried to find more information about JewelBox. So here are some of the frequently asked questions about them.

1. Who Is The Founder of JewelBox?

Nipun Kochar and Vidita Kochar are the co-founders of JewelBox, a lab-grown diamond jewelry brand.

2. Is JewelBox From Shark Tank India profitable?

Yes, JewelBox is a profitable jewelry brand and they have an EBITDA margin of 15%. As per the founders, their sales numbers are given below:

• October 2023 sales were INR 97 lakhs
• FY 22-23 sales were INR 3.8 crores
• FY 23-24 sales till the time of Shark Tank India shooting were INR 5.2 Crores.

3. What happened to JewelBox after the Shark Tank?

JewelBox was able to secure a deal from all the 5 Sharks and they are now offering a special discount for Shark Tank viewers on their website.

4. What Is The Valuation of JewelBox?

JewelBox raised funding in Shark Tank India season 3 at a valuation of INR 33.33 crores.