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Lab-Grown Diamonds

Lab-Grown Jewellery Brand True Diamond Raises Funding in a Pre-Series A round

India’s lab-grown jewellery brand, True Diamond, has raised Rs 26 crores (~$ 3mn) in a Pre-Series A round led by IndiaQuotient, with participation from Titan Capital and Huddle Ventures.

Founded in 2024 by Parin Shah and Darayus Mehta, True Diamond products include lab-grown diamond bracelets, rings, pendants, earrings, and tennis bracelets. It is also one of the few jewellery brands that offers a men’s collection, with earrings and cufflinks as options. 

The company has 

Mumbai-based startup had earlier raised $ 1 mn in a seed funding round led by Titan Capital with participation from Huddle Ventures, Zeropearl Venture, etc. 

True Diamond has stores in Mumbai, Hyderabad and a newly opened outlet in Noida, and it wants to use the additional funding to further expand its offline presence. 

Lab-grown diamonds are identical to natural diamonds in their physical, chemical, optical, and atomic properties. However, instead of being mined, they are made in a laboratory, offering a sustainable alternative to customers.

Indian lab-diamond industry is buzzing with activity as several startups have entered the market, capitalising on the growing demand for affordable, sustainable luxury. 


You might like to read

In March 2024, Firefly Diamonds, another Mumbai-based lab-grown diamond jewellery brand, secured seed funding from WestBridge Capital. Read here.

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