ET Startup Awards 2026 | Woman Ahead: Palmonas, Progcap share crown for building across sectors
Palmonas cofounder Pallavi Mohadikar and Progcap cofounder Pallavi Shrivastava jointly won the Woman Ahead award at the ET Startup Awards 2026. The jury recognised their distinct journeys in building high-impact businesses in jewellery and supply-chain finance, as both founders tackle underserved markets in the country.
The ET Startup Awards 2026 announced a pair of winners in the Woman Ahead category, recognizing two entrepreneurs who have built high-impact companies in distinct sectors. Palmonas, a demi-fine jewellery brand founded by Pallavi Mohadikar and Amol Patwari, and Progcap, a supply-chain lending platform led by Pallavi Shrivastava and Himanshu Chandra, both received the prestigious award.
The jury praised the nominees' diverse backgrounds, noting that they tackled pressing challenges in fintech, consumer, beauty, and ecommerce industries. Palmonas, based in Pune, operates through offline stores, D2C websites, and e-commerce platforms, recently expanding into 9-carat gold jewellery. The company has raised $47 million and aims to build a jewellery powerhouse globally. Mohadikar expressed gratitude for the recognition, stating that it validates their hard work.
Progcap, founded by Shrivastava and Chandra, addresses India's credit gap by providing collateral-free working capital to millions of retailers and distributors through data-driven underwriting. The platform has facilitated over Rs 55,000 crore in financing and raised $110 million. Shrivastava emphasized the importance of the award, stating that it motivates the company to continue building financial and technological infrastructure for small businesses.
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