Jewellery Startup Palmonas Ropes In Shraddha Kapoor As Cofounder

Pune-based jewellery startup Palmonas has roped in Bollywood actor Shraddha Kapoor as its new cofounder. 

With this partnership, Palmonas looks to leverage Kapoor’s popularity to expand its reach, the company said in a statement on Thursday.

Founded by Pallavi Mohadikar and Amol Patwari in 2021, Palmonas is a demi-fine jewellery brand for women which offers a range of contemporary options for daily and occasion wear.  

Demi-fine, generally, means affordable, but premium quality jewellery.

The brand offers a range of jewellery options, including necklaces, rings, bracelets, earrings, and mangalsutras, priced between INR 800 and INR 5,500 and sold with a one-year warranty.

It competes against the likes of GIVA, GoldSetu and Melorra among others. 

For the past several years, many Bollywood celebrities have been juggling the role of investors as well as founders in the startup ecosystem. Notable names in this category include Alia Bhatt, Deepika Padukone, Akshay Kumar, and Kareena Kapoor.

Earlier this year, Ranveer Singh had also backed capital in Aman Gupta’s boAt.

For instance, Kareena Kapoor has taken on the role of cofounder at Quench Botanics, a Korean skincare brand associated with SUGAR Cosmetics. 

Suniel Shetty has also emerged as a noteworthy name in the startup ecosystem. In 2023, he diversified his investment portfolio by supporting startups across various industries.

The trend extends beyond Bollywood, with figures from the music industry, such as The Chainsmokers and comedians like Zakir Khan and Tanmay Bhat, making strategic investments.

Inc42’s data reveals that over 19 celebrities from the entertainment industry backed a total of 26 startups last year.

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