Lab-grown Diamond Startup True Diamond wins $1 million in Seed Funding
True Diamond, a lab-grown diamond startup, has raised $1 million in a seed funding round led by Titan Capital. Huddle Ventures, Zeropearl Ventures, and Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Mamaearth founder Ghazal Alagh, Abhishek Goyal, and Anmol Jain have also contributed personally.
According to a press statement from True Diamond, the new funding will be used to hire a talented workforce, increase brand awareness, hire jewelry specialists and consultants, designers, and sales teams, open exclusive boutique locations in Mumbai and Delhi NCR, and make investments in branding and marketing campaigns.
True Diamond is a lab-grown diamond jewelry company that was co-founded in January 2024 by Parin Shah and Darayus Mehta. Its core values are sustainability, innovation, and unwavering quality. In the jewelry market, the brand wants to redefine luxury. 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.
Offering a vast portfolio of 5,000 customisable designs, True Diamond boasts a 1.7-time client retention rate and is accessible nationwide.
Recently, OneCard, a mobile-first credit card startup, has raised $28.5 million from Better Tomorrow Ventures, Peak XV, and Z47. This is the first equity investment for the Pune-based company since 2024, but it received debt funding in January this year.
This has passed a special resolution to issue 72,048 cumulatively preferred shares at an issue price of Rs. 33,228.3 per share in order to raise Rs. 239.4 crore or $28.5 million, according to its regulatory filing.
According to a press statement from True Diamond, the new funding will be used to hire a talented workforce, increase brand awareness, hire jewelry specialists and consultants, designers, and sales teams, open exclusive boutique locations in Mumbai and Delhi NCR, and make investments in branding and marketing campaigns.
True Diamond is a lab-grown diamond jewelry company that was co-founded in January 2024 by Parin Shah and Darayus Mehta. Its core values are sustainability, innovation, and unwavering quality. In the jewelry market, the brand wants to redefine luxury. 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.
Offering a vast portfolio of 5,000 customisable designs, True Diamond boasts a 1.7-time client retention rate and is accessible nationwide.
Recently, OneCard, a mobile-first credit card startup, has raised $28.5 million from Better Tomorrow Ventures, Peak XV, and Z47. This is the first equity investment for the Pune-based company since 2024, but it received debt funding in January this year.
This has passed a special resolution to issue 72,048 cumulatively preferred shares at an issue price of Rs. 33,228.3 per share in order to raise Rs. 239.4 crore or $28.5 million, according to its regulatory filing.
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