Palmonas

Based in Pune, India, and founded in 2022 by CEO Pallavi Mohadikar and co-founders Amol Patwari and Shraddha Kapoor, Demefine Fashion Pvt Ltd, trading under the name Palmonas is an Indian brand in the demi-fine jewelry that offers a curated collection of affordable luxury jewellery designed for modern, fashion-conscious individuals. In March 2026, Palmonas raised USD 40 million in Series B funding co-led by Xponentia Capital and Vertex Growth, and Vertex Ventures also participated in the round. Palmonas is an Indian demi-fine jewellery brand that blends luxury with affordability, offering a curated range of gold-plated silver jewellery including rings, necklaces, earrings, and bracelets. The brand provides convenient services including online order tracking using Order IDs, easy return and exchange options, and detailed policies on shipping, warranty, and refunds.

Palmonas also supports in-store experiences with multiple retail outlets across cities like Pune, Navi Mumbai, Delhi, and Lucknow, each offering personalized assistance.   The company will use the funding from April 2026 to expand its offline retail store network across India and strengthen its omnichannel presence.