Jewel Box Shark Tank India Season 3: Diamonds are the most loved gems in jewelry. You will be glad to know that there is a startup that appeared on Shark Tank S3 that has created the same diamonds in the Lab to reduce the harm we cause to the planet for diamond mining. Jewel Box on Shark Tank India Season 3 is set to increase your fascination with Lab Grown Diamonds. To learn more about Jewel Box Shark Tank, stay tuned with us till the end.
Jewel Box Shark Tank India Season 3
Jewel Box is a lab-grown diamond jewelry brand in India that works on the concept of the magic of science integrated with the art of jewelry. The founders of Jewel Box presented their business model, diamond-making process, and products to the Sharks and they were too impressed with it.
Jewel Box grows the diamonds in the lab and eliminates the process of mining. They create the same environmental conditions of the Earth in which diamonds naturally grow in the Laboratories and create the same copy of natural diamonds. The chemical composition, structure, and everything is so similar to lab-grown and natural diamonds that only advanced equipment and gemological labs can find a difference between the two.
The brand has several categories in its portfolio including Rings, Bracelets, Earrings, Pendants, Nosepins, etc. Jewel Box founders compare its diamonds to the Test Tube Baby as the process of formation is different but the end product is the same. Jewel Box has 2 retail outlets of lab-grown jewelry as of now.
Founders of Jewel Box
Vidita Kochar and Nipun Kochar are the founders of Jewel Box, a lab-grown diamond jewelry brand working to ethical and sustainable ways of diamond culturing. Jewel Box founders have saved at least a little part of the planet from mining diamonds but growing diamonds in the lab as they believe that ”Any diamond is a diamond not because it is mined from the earth but because of the crystalline structure of carbon atoms”
Vidita Kochar studied Bachelor of Commerce at St. Xavier’s College, Kolkata, and a CA from The Institute of Chartered Accountants of India. She also holds a Master of Business Administration Degree from the Indian School of Business.
Her entrepreneurial journey started in 2013 when she co-founded PlanMyAd with Nipun, it was an advertising media company shut down in 2019. After that, she joined Swiggy as a Regional Category Manager and left the company in December 2021 to establish Jewel Box.
Nipun Kochar also studied at St. Xavier’s College, Kolkata to pursue his Bachelor of Commerce and CA from The Institute of Chartered Accountants of India which he finished in 2010. For 2 years, he was a partner in Narendra Kochar & Co. Chartered Accountants and in 2013, Nipun and Vidita founded PlayMyAds and then Jewel Box in 2021.
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Jewel Box Shark Tank Business Deal
Jewel Box on Shark Tank India Season 3 episode streamed on 7 February 2024. The founders presented their business and products to the Sharks and they were all fascinated after learning about it. They asked for Rs 1 Cr in exchange for 2% equity. The first offer was given by Rs 1 Cr for 5% equity along with 2% royalty until 1 Cr is recouped, Radhika also joined Aman in this offer.
Vineeta offered Rs 1 Cr for 2.5% equity, first Ritesh joined her, and then Peyush also joined them. Aman and Radhika revised their offer and asked for 2.25% equity to give Rs 1 Cr. The founders asked all the Sharks to come together and made a counteroffer for Rs 2 Cr in exchange for 5% equity but Aman was not ready at 5% as he wanted 6%.
So the deal was locked with all 5 Sharks – Vineeta, Ritesh, Peyush, Aman, and Radhika for Rs 2 Cr in exchange for 6% equity.
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In this write-up, I have shared all the crucial details about Jewel Box Shark Tank India Season 3. The founders of Jewel Box have proved that when you decide to do something no power can hold you back. They have grown exact diamonds in labs that not even experts can identify with the naked eye of a normal microscope the diamond is natural or lab-grown because the chemical composition, structure, and everything is similar.
Hope this Jewel Box Shark Tank business deal was learnable for you and the content I have shared was also useful for you. To get instant updates about Shark Tank India Season 3, stay connected with us. Thanks for reading.
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Who is the founder of Jewel Box?
Vidita Kochar and Nipun Kochar are the founders of Jewel Box, a lab-grown diamond jewelry brand ranging from categories like Rings, Bracelets, Earrings, Pendants, Nosepins, etc.