Home Startup Stories Bengaluru Startup Cosmos Diamonds Sent A Lab-Grown Diamond To Space, Clocks Rs 20 Crore Revenue Bengaluru Startup Cosmos Diamonds Sent A Lab-Grown Diamond To Space, Clocks Rs 20 Crore Revenue The Bengaluru-based startup, Cosmos Diamonds, founded by Sanjana Tripuramallu, sent a lab-grown diamond to space and crossed Rs. 20 crore in revenue. By Sakshi Agrawal 27 Aug 2026 google-news Follow Us New Update --> Diamonds have always been said to be a “girl’s best friend”. The jewellery market tapped into this emotion by selling these mined stones as heirlooms, status symbols, and emotional anchors. But their value was always hard to determine. Pricing was not standardized due to variations in carat weight, cut, clarity, and other subjective qualities. The cracks in this fragmented ecosystem started to show when lab-grown diamonds entered the market. These stones are identical in composition to natural diamonds, just much more affordable. In India, particularly, these stones are slowly moving from a niche alternative to a mainstream choice, with a lot of buyers questioning if mined diamonds are worth it anymore. Last year, the global lab-grown diamond market was valued at USD 29.46 billion and is projected to grow to USD 91.85 billion by 2034. Of this, India accounted for roughly 9.71%, making it one of the largest lab-grown diamond markets in the world. Advertisment Add Startup Pedia As A Trusted Source While some Indian buyers swear by this cost-effective alternative, others are still hesitant, often assuming that lab-grown means ‘artificial’ or ‘fake’. This perception and transparency gap has become the industry's biggest hurdle. “In the initial days, I went and asked people for a lab-grown diamond, and they would say that lab-grown is not a material type, and it's very bad. It was very clear that there's no transparency,” Sanjana Tripuramallu, founder of Cosmos Diamonds, told Startup Pedia in an exclusive interview. Founded in 2021 and based in Bengaluru, Cosmos Diamonds is a lab-grown jewellery brand that focuses on transparency, heritage-inspired designs, and a 100% buyback policy that clocked in Rs 20 crore revenue in FY 25-26. The backstory of Sanjana Tripuramallu Born in Vijayawada, Andhra Pradesh, Sanjana pursued engineering before transitioning to design to follow her passion. She graduated from the National Institute of Design in Ahmedabad, after which she got placed at Samsung. She was part of the “Make in India” task force at Samsung, an initiative to determine the kind of digital products, including AI, that would impact Indian consumers. In 2020, she started looking for an engagement ring ahead of her wedding in 2021. Inspired by a colour that was both her and her partner's favourite, she wanted a bluish-green diamond on her finger. Diamonds were not her forte. She understood gold because her mother pursued a small business in the metal. But determined to have the diamond, she visited 40+ stores and walked out of each of them more confused than when she had walked in. “Every store was saying different things. There's no pricing parity. Usually, gold pricing is very easy to understand, as there's a public market rate and a making charge on top. But for diamonds, one store was Rs 40,000, and another was Rs 95,000. Everyone said that they would provide an authentication certificate. It was just overwhelming and confusing to begin with,” Sanjana said. Sanjana Tripuramallu, founder of Cosmos Diamonds The opportunity: A bet on value She took a break from her diamond ring-hunting and started reading up on the history of diamonds. That is when she understood the concept of blood diamonds, illegal trade and mining, marketing campaigns around diamonds, and much more. “I thought that this was nothing like the beautiful showrooms that we visit and the storytelling that happens there. It felt like a farce. Also, it doesn't represent anything about me or my love. So, I was sure I didn't want a mined diamond,” she explained. During her research, she stumbled upon a new up-and-coming technology of lab-grown diamonds , and she found it to be extremely fascinating, something like alchemy. That is when she decided that her engagement ring should represent the new technology and sustainability. Using her contacts in Gujarat, she travelled and met people to understand the making process of lab-grown diamonds. She visited a few factories and worked with a manufacturer to create her dream ring using the process. “For any product, if the price is lower, generally the quality is lower. That's how it is understood. For the first time, I was getting the same quality product with the same certification, but for a lower price, and that is insane value,” she said. Seeing her ring, her friends also started asking for similar pieces. That is when she realized the market potential for affordable and transparent lab-grown jewellery. With her passion for design and an entrepreneurial itch in hand, she started Cosmos Diamonds. The journey and challenges of building Cosmos Diamonds In 2021, Sanjana started Cosmos Diamonds from her bedroom with a bootstrapped amount of Rs 3 lakhs. Through a WhatsApp group, she started building her customer base. She designed the products, while diamond sourcing was from Surat and manufacturing was in Vijayawada and Mumbai. When Cosmos Diamonds started, the market was relatively immature, and people did not grasp the science and technology behind lab-grown diamonds, as they considered them to be fake. She would get a lot of advice saying that she should keep both lab-grown and natural diamonds to give people a choice. But she felt that selling both would undermine her beliefs and her brand story. Reluctant to raise funds, six months into the business, Sanjana started doing something that was free: creating YouTube videos to help her potential customers understand the process behind these stones. She also used this time to speak to more than 1,000 people to understand the product-market fit better. Emerald and diamond necklace While this problem was being handled on the side, a new one emerged. Since these stones were very new in the market, there were no proper standards, and a lot of karigars (artisans) were reluctant to create designs with lab-grown diamonds. “Karigars would say that this was not a real diamond, and they wouldn’t work with it. Personally, they also would not take me seriously. They would ask me the reason for coming alone ask me to bring my father. A 26-27-year-old woman coming to a factory is generally not taken seriously because the environment is not that way,” she said. One year into the business, her YouTube videos started going viral, and she also hired an assistant and a tech freelancer to help her build a website. With better clarity and support, she launched her first store in Vijayawada in 2023, which brought in profits from the first month. Also Read: How Rings & I Became India's First Made-to-Order Diamond Jewellery Brand Cosmos Diamonds: crafting IGI-certified lab-grown diamonds Today, Cosmos Diamonds crafts heritage-inspired jewellery using lab-grown diamonds, positioning itself as a brand that blends traditional Indian design with modern, transparent pricing. The products start from Rs 5000 and go up to Rs 30 lakhs. Earrings from the Cosmic Bloom collection But what makes them different from other brands in the category? 1. They sell all kinds of jewellery pieces, from baby earrings to heavy bridal sets that require extensive craftsmanship. 2. They focus on regional and heritage-inspired designs, using local craftsmanship to inspire their designs. 3. They offer a 100% buyback policy with an option to exchange their old Cosmos Diamonds piece for a new piece. “If you are buying in precious metals like gold and diamonds, your general understanding is that this holds value. That's why you're investing in it and spending money. So, then you should also get it back for lab-grown diamonds. There is a big misconception that lab-grown diamonds don't have buyback value. That's not true,” Sanjana explained. With a team of 25 people, they have two physical stores, including their flagship store in Bengaluru, which is the largest experience store in Karnataka. The design of the pieces is completely in-house, personally overseen by Sanjana. The manufacturing is handled across four factories that produce exclusively for Cosmos Diamonds. Momentum of Cosmos Diamonds and what’s next The company made Rs. 1 crore in the first year and Rs.3 crore in the second year of business. To date, they have served over 10,000 clients and reported Rs 20 crore in revenue for FY25-26, with 35% of sales coming from online. One of their most notable collaborations was with Skyroot Aerospace. In July 2026, Skyroot Aerospace’s Vikram-1 was launched into space, which was India’s first privately built rocket to reach orbit. The rocket carried six payloads, out of which one was Cosmos Diamond’s Cosmic Bloom. This was a 16.16ct lab-grown diamond lotus that was developed by Sanjana and her team, designed to represent Indian culture and heritage. Over one year, the team conducted thousands of iterations and tests to ensure the diamond would withstand the launch conditions. It proved to be successful. “When a lot of people are interested in lab-grown diamonds, there is a section of society that is also pushing it. They still doubt it. Is that like a real diamond? Will it break? Will it crack? Will it become dark? Things like that. Now I have an answer. If it survives a space launch, I'm sure it is good to wear every day,” Sanjana said. “In many ways, it became very beautiful because we named our brand Cosmos, and something we made went into Cosmos,” Sanjana added. The company is currently focusing on scaling and storytelling. They have a new store opening in Hyderabad, with another flagship store on schedule in the next two months. They also have three new collections launching this year, all of which are rooted in reinventing Indian style with contemporary aesthetics. “Before, the fight was about whether this is a real diamond, and you have buybacks, etc. But now that is being sorted, and there are so many brands that are coming up now. The direction is to differentiate and to actually have more freedom in storytelling and to do more collections,” Sanjana signed off. Also Read: Meet the Mumbai Entrepreneur Behind Akoirah, Lab-Grown Diamond Brand Backed by Augmont FAQ Q. Who founded Cosmos Diamonds and when? A. Cosmos Diamonds was founded in 2021 by Sanjana Tripuramallu in Bangalore, starting with a bootstrapped amount of Rs 3 lakh. Q. What makes Cosmos Diamonds different from other lab-grown diamond brands? A. It focuses on heritage-inspired designs and offers a 100% buyback policy. It's also the first Indian brand to send a lab-grown diamond into space. Q. How much revenue does Cosmos Diamonds make? A. Cosmos Diamonds reported Rs 20 crore in revenue for FY25-26, having served over 10,000 clients to date. Q. What was the Cosmos Diamonds and Skyroot Aerospace collaboration? A. In July 2026, Cosmos Diamonds sent a lotus-shaped lab-grown diamond into space aboard Skyroot's Vikram-1, India's first privately built rocket to reach orbit. Author Sakshi Agrawal Read More Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news All groups D2C Founders Subscribe Now You May Also like Read the Next Article
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