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True Diamond raises $3 Mn led by India Quotient

EntrackrEntrackr · 3m ago
True Diamond raises $3 Mn led by India Quotient
Medial

True Diamond raises $3 Mn led by India Quotient Lab-grown diamond jewelry brand True Diamond has raised Rs 26 crore ($3 million) in a pre-Series A funding round led by India Quotient along with participation from existing investors Titan Capital, Winners Fund, and Huddle Ventures. Prior to this, it had raised $1 million in a seed funding round led by Titan Capital, along with participation from Huddle Ventures, Zeropearl Ventures, and personal investments from Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Mamaearth founder Ghazal Alagh, Abhishek Goyal, and Anmol Jain. The proceeds will be used to accelerate its omnichannel strategy and focus on offline expansion, True Diamond said in a press release. Co-founded in 2024 by Darayus Mehta and Parin Shah, True Diamond aims to modernise the jewelry experience for contemporary Indian consumers. The brand focuses on design and material innovation, bold content, and accessible luxury. It has launched retail outlets in Mumbai, Hyderabad, and Noida, with more stores planned across metro cities. The Mumbai-based company offers a variety of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, and tennis bracelets, among others. The startup also provides customized jewellery and men’s collections. True Diamond claims to have built a catalog of over 5,000 designs and achieved a 1.7x customer repeat rate. The brand offers innovative products with unique launches like over the 160 facet Portuguese diamonds, black diamonds, and many more.

Govt achieved several firsts in 2024 including approval of four semicon projects: Meity

Economic TimesEconomic Times · 8m ago
Govt achieved several firsts in 2024 including approval of four semicon projects: Meity
Medial

The Ministry of Electronics and Information Technology has approved four semiconductor development projects in 2024. These include one chip fabrication project and three chip packaging units. The chip fabrication unit, a joint venture between Tata Electronics and Powerchip Semiconductor Manufacturing Corporation, will be located in Gujarat and have a capacity of manufacturing 50,000 wafer starts per month. Additionally, two chip packaging units will be built in Gujarat and Assam, with capacities of over 70 million chips per month combined. The ministry has also developed and deployed the India AI platform to encourage safe and trusted artificial intelligence deployment.

NoPo Nanotechnologies raises $3 Mn in pre-Series A round

EntrackrEntrackr · 1y ago
NoPo Nanotechnologies raises $3 Mn in pre-Series A round
Medial

Bengaluru-based startup NoPo Nanotechnologies has secured $3 million in its pre-Series A co-led by deep tech funds Axilor’s Micelio Fund and Inflexor Ventures. The round was also subscribed by other climate-focused funds Spectrum Impact, Aureolis, and other angel investors. The proceeds will be used to deploy the funds to ramp up production, enhance engineering capabilities, and execute a global go-to-market strategy. With the latest funding, NoPo is expanding its production capacity to service global battery manufacturers as well as further developing its offerings for electronics/semiconductor customers. Founded by Gadhadar Reddy and Kelley Bradley, NoPo produces high-quality Single-Walled Carbon Nanotubes (SWCNTs). Gadadhar and Dr Kelley Bradley have been working on building the technology over the past decade. SWCNTs are an advanced material that holds promise across various applications ranging from usage by EV battery manufacturers where the material can improve energy density to usage by researchers in the design of semiconductors to make quantum computing a reality. NoPo claims that it is the only player in India and one of the few globally to have developed the technology to produce SWCNTs using a proprietary patented method. The company has been manufacturing the material consistently for the last five years and is now focussing on expanding capacity for global customers working in high energy density batteries and in advanced electronics.

Bluestone controls losses by 41% in Q1 FY26; revenue nears Rs 500 Cr

EntrackrEntrackr · 5d ago
Bluestone controls losses by 41% in Q1 FY26; revenue nears Rs 500 Cr
Medial

Fintrackr Bluestone controls losses by 41% in Q1 FY26; revenue nears Rs 500 Cr Bluestone, recently listed on stock exchange, announced its financial results for the first quarter of the ongoing fiscal year (Q1 FY26) on Thursday. The firm’s revenue grew by 42% over the period, while its losses reduced by 41%. On a quarter-on-quarter basis, Bluestone’s operating revenue remained flat Rs 493 crore in Q1 FY26 from Rs 461 crore in Q4 FY25. The company's sole revenue stream was the sale of diamond, gold, platinum, gemstone, and pearl jewelry; however, the firm did not provide a detailed revenue breakdown for the quarter. The company made Rs 12 crore from non-operating sources which took Bluestone’s total revenue to Rs 505 crore in the first quarter. On the expense front, the cost of material remained the largest cost center for Bluestone, accounting for 54% of its total expenditure. This expense increased by 37% year-on-year, rising to Rs 290 crore in Q1 FY26 from Rs 211 crore in Q1 FY25. Employee benefit rose 50% to Rs 63 crore in Q1 FY26. Overall, Bluestone's total costs grew by approximately 29%, reaching Rs 538 crore in Q1 FY26. With the help of revenue outpacing expense growth, the company managed to cut its losses by 41% to Rs 35 crore in Q1 FY26 from Rs 59 crore in Q1 FY25. However, the company reported a positive EBITDA of Rs 67 crore in the same period. Bluestone launched its initial public offering (IPO) in August 2025, with a price band set between Rs 492 and Rs 517 per share. The stock made its market debut on 19 August 2025 at Rs 510, reflecting a slight 1.3% discount from its issue price of Rs 517 and raised Rs 1,500 crore overall, which included Rs 693 crore garnered from anchor investors earlier that month. At the end of today’s trading session, Bluestone’s share traded at Rs 564, with a 1.4% increase in its share price. The company’s total market capitalization stood at Rs 8,534 crore (approx $1 billion).

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