Shark Tank Season 3: This Lab-Grown Diamonds Company Bagged 5-Shark Deal; All You Need To Know

The electrifying third season of Shark Tank is in full-throttle mode with a bevy of entrepreneurs and innovators presenting memorable pitches one episode after the other.

From innovative gadgets and cutting-edge technology to revolutionary products and services, Shark Tank Season 3 has showcased a diverse array of ventures vying for the chance to secure a life-changing deal.

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One of the most unique deals in the latest episode of the show was that of Jewel Box.

The Kolkata-based jewellery brand, Jewel Box, managed to seal an all shark deal of Rs 2 crore.

In a realm where diamonds have traditionally stood as nature¡¯s pinnacle of elegance, a fresh contender has surfaced to reshape luxury. Jewel Box has reinvented the dazzle using lab-grown diamonds and their products left the 'Shark Tank India 3' judges stunned!

Jewel Box brings the magic of science to the art of jewellery, crafting lab-grown diamonds that are physically, chemically, and optically indistinguishable from their natural counterparts.

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As the founders, Nipun Kochar, and Vidita Kochar, made their debut on the show, they invited the audience to witness the evolution of conscious luxury, where every piece tells a story of commitment to our planet. Nipun and Vidita, the entrepreneurial minds behind 'Jewel Box', share a journey marked by innovation and commitment.

The siblings' foray into the business world began with an ad tech company during college. They joined forces again to launch Jewel Box in 2022. Their intial ask was Rs 1 crore for two per cent equity.

However, the deal was closed at Rs 2 crore at 6 per cent equity with all the sharks -- Vineeta Singh, Ritesh Agarwal, Aman Gupta, Peyush Bansal, and Radhika Gupta coming onboard together.

Talking about her experience on 'Shark Tank India', Vidita Kochar Jain said: "Appearing on Shark Tank and securing an All-Shark Deal will be a pivotal moment in building Jewel Box as well as pioneering the category of Lab Grown Diamond Jewellery in India. Pitching in the high-stakes situation and captivating the Sharks was exhilarating."

"Securing the deal validated our hard work and vision. This experience solidified my belief in our brand¡¯s values and products, setting a strong foundation for future success," added Vidita.

What Are Lab-Grown Diamonds?

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Lab-grown diamonds, also known as synthetic or cultured diamonds, are created through technological processes in a laboratory setting rather than being formed naturally in the Earth's mantle. Scientists replicate the conditions under which natural diamonds develop, allowing them to produce diamonds with similar physical and chemical characteristics. These diamonds are virtually identical to mined diamonds in terms of appearance and composition but are often considered a more ethical and sustainable alternative to traditional diamonds.

'Shark Tank India 3' is available for streaming on Sony LIV.

(With agency inputs)