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True Diamond raises $1 Mn in seed funding round

Entrackr · 26d

Lab-grown diamond startup True Diamond has 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 fresh funds will be utilized to build a skilled team, amplify brand visibility, onboard jewellery experts/consultants, designers, and sales teams, launch exclusive boutique outlets in Mumbai and Delhi NCR, and invest in branding and marketing initiatives, True Diamond said in a press release. Co-founded in January 2024 by Parin Shah and Darayus Mehta, True Diamond is a lab-grown diamond jewellery brand that focuses on sustainability, innovation, and uncompromising quality. The company aims to redefine luxury in the jewellery industry. It offers a variety of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, tennis bracelets, amongst others. The startup also provides customized jewellery and men’s collections. According to the Mumbai-based company, its lab-grown diamonds are created in a laboratory setting using advanced technological processes that mimic the natural diamond-growing environment. They have the same chemical composition, physical properties, and optical characteristics as natural diamonds but are ethically and sustainably produced. True Diamond offers an extensive catalogue of 5,000 customizable designs, claims to have a customer repeat purchase rate of 1.7 times, and is available across the country.