True Diamond, a brand that makes lab-grown diamond jewelry, has raised INR 26 crore (about $3 million) in a pre-Series A funding round. The investment was led by India Quotient, an early-stage venture capital firm.
Existing investors Titan Capital, Winners Fund, and Huddle Ventures also took part in the funding round.
True Diamond said in a press release that it will use crowdfunding to expand its presence online and in physical stores.
Earlier, the company had raised $1 million in seed funding. Titan Capital led that round and also saw investments from Huddle Ventures, Zeropearl Ventures, and well-known individuals like Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Ghazal Alagh (founder of Mamaearth), Abhishek Goyal, and Anmol Jain.
“We never wanted to be just another jewellery brand,” said cofounder Parin Shah. “We’re building a next-gen brand experience through high-quality lab-grown diamonds, cutting-edge content, and a retail journey that breaks away from the conventional. This round gives us the ability to scale this vision faster.”
“We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewellery market. It presents an exceptionally strong value proposition for today’s value-conscious and design-sensitive customers. Under the leadership of Parin and Darayus, we’ve observed True Diamond evolving into an aspirational omnichannel retailer within this segment, and we are thrilled to be a partner in this journey,” said Sahil Makkar, India Quotient.
“As one of the first investors in the company, we are excited to deepen our partnership with True Diamond. We believe lab-grown diamonds will make jewellery more accessible and desirable. But the customer won’t compromise on great designs, a personalized buying and service experience, or a brand they are proud to flaunt. True Diamond has the chance to be that brand, “added Shiv Kapoor, Vice President at Titan Capital Winners Fund.
True Diamond was started in 2024 by Darayus Mehta and Parin Shah. The brand aims to make jewellery shopping simple and modern for today’s Indian customers. It offers stylish designs, good-quality materials, bold looks, and luxury at affordable prices.
True Diamond has opened stores in Mumbai, Hyderabad, and Noida and plans to open more stores in other major cities soon.
Mumbai-based True Diamond sells a wide range of products, including rings, earrings, pendants, necklaces, mangalsutras, and bracelets, and also offers custom-made jewellery and a men’s collection.
The company says it has over 5,000 jewellery designs and that many customers come back to buy again—on average, 1.7 times. It also offers special products like diamonds with over 160 facets, black diamonds, and more.
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