True Diamond raises $3 Mn led by India Quotient

Lab-grown diamond jewelry brand True Diamond has raised Rs 26 crore ($3 million) in  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, tennis bracelets, amongst 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.