SUMMARY
- True Diamond raises $1M in seed funding, plans to expand team and marketing efforts.
- Offers customizable, sustainable lab-grown diamond jewelry with ethical production processes.
- Plans boutique outlets in Delhi NCR and Mumbai, tapping into rising demand for lab-grown diamonds.
Lab-grown diamond jewelry company, True Diamond has raised $1 million in a seed fundraising round headed by Titan Capital. With the fresh capital, the business intends to expand their team, enhance marketing efforts and establish boutique outlets in Delhi NCR and Mumbai.
Huddle Ventures, Zeropearl Ventures, and several notable angel investors including founders from RENA E Cosmetics, Mamaearth, Tracxn, and Astrotalk were also present in the fundraising round.
Co-founder of True Diamond Parin Shah stated, “This funding will enable us to expand our team, establish boutique locations, and execute strategic marketing initiatives.”
Parin Shah and Darayus Mehta co-founded True Diamond is a lab-grown diamond jewelry company founded in January 2024. Among the many items it sells are bracelets, tennis bracelets, pendants, necklaces, earrings, rings, and mangalsutras. Additionally, the firm offers men’s collections and personalized jewelry.
The Mumbai-based business claims that its lab-grown diamonds are produced in a lab environment utilizing cutting-edge technology procedures that replicate the conditions found in a natural diamond-growing environment. Although they are created ethically and responsibly, they share the same chemical makeup, physical attributes, and optical features as genuine diamonds.
According to the company, True Diamond has already created a portfolio of 5,000 customizable designs since its incorporation in January and has a 1.7-fold client repeat buy rate.
Titan Capital highlighted the market potential for reasonably priced, ethically sourced luxury jewelry by pointing to the rising demand for lab-grown diamonds in India.
Through its growing retail network, the company offers premium, personalized diamond jewelry with the goal of appealing to consumers who are concerned about sustainability.
