Lab-grown diamond jewelry brand True Diamond has raised $3 million (Rs 26 crore) in a pre-Series A funding round. The round was led by India Quotient, with participation from existing investors Titan Capital Winners Fund and Huddle Ventures.
Earlier, True Diamond raised $1 million in a seed round led by Titan Capital. Other participants included Huddle Ventures, Zeropearl Ventures, and individual investors such as Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Ghazal Alagh (founder of Mamaearth), Abhishek Goyal, and Anmol Jain.
According to a company press release, the new funds will be used to accelerate True Diamond’s omnichannel strategy and expand its offline presence.
Founded in 2024 by Darayus Mehta and Parin Shah, True Diamond aims to modernize the jewelry experience for modern Indian consumers. The brand focuses on design innovation, high-quality materials, bold marketing, and making luxury accessible.
True Diamond has opened retail stores in Mumbai, Hyderabad, and Noida, with plans to open more outlets in other major metro cities.
Based in Mumbai, the company offers a wide range of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, and tennis bracelets. It also provides customized jewelry and collections for men.
The startup has built a catalog of over 5,000 designs and reports a customer repeat rate of 1.7 times. True Diamond’s unique offerings include innovative launches such as Portuguese diamonds with over 160 facets and black diamonds, among others.
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