Team Startupcity

• True Diamond raisesRs 26 Cr in Pre-Series A led by India Quotient to expand its omnichannel luxury jewellery business.
• The brand boasts 5,000+ designs, a 1.7x repeat rate, and stores already in Mumbai, Hyderabad, and Noida.
• Focused on lab-grown diamonds, the startup is aiming to make luxury sustainable, affordable, and stylish.

Lab-grown diamond jewelry brand True Diamond raised Rs 26 crore in a Pre-Series A round led by India Quotient, with the contribution of existing investors Titan Capital Winners Fund and Huddle Ventures.

True Diamond, launched in early 2024 by Darayus Mehta and Parin Shah, is revolutionizing luxury with a focus on sustainability, innovation, and superior design. True Diamond features a vast array of more than 5,000 jewellery designs spanning rings, earrings, pendants, bracelets, necklaces, mangalsutras, tennis bracelets, and a specific men's line and customized offerings. It has already gained a 1.7x customer repeat rate, which points towards high customer loyalty in a competitive marketplace.

“We never set out to be just another jewellery brand,” said co-founder Parin Shah. “We’re building a next-gen luxury experience combining high-quality lab-grown diamonds with immersive content and a retail journey that challenges the norm. This funding round helps us scale that vision faster.”

The fresh funds raised will drive True Diamond's omnichannel growth, with a strong focus on offline retail development. Already, the brand has opened stores in Mumbai, Hyderabad, and Noida, and will take its footprint to other metro cities shortly.

Sahil Makkar of India Quotient observed, "We believe that the lab-grown diamond + gold segment has massive potential. It is the ideal combination of affordability and style for value-conscious consumers in today's market. With Parin and Darayus at the helm, True Diamond is becoming a aspirational omnichannel brand quickly."

Shiv Kapoor, Vice President at Titan Capital Winners Fund, added, “As early backers, we’re thrilled to deepen our partnership. Lab-grown diamonds are making luxury more accessible, but consumers still expect stunning design and personalized service and True Diamond is well-positioned to deliver that.”