Lab-grown Diamond Jewellry Brand True Diamond Raises Rs 26 Cr in Pre-Series A Round

True Diamond, a lab-grown diamond jewellry brand has raised Rs 26 crore ($3 million) in pre-Series A funding round led by India Quotient.

The round also saw participation from existing investors Titan Capital Winners Fund and Huddle Ventures. 

True Diamond said in a press release that the funding will be used to speed up its omnichannel plans and grow its offline stores.

Before this, the company raised $1 million in seed funding. The round was led by Titan Capital and included investments from Huddle Ventures, Zeropearl Ventures, and individuals like Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Ghazal Alagh (founder of mamaearth), Abhishek Goyal, and Anmol Jain.

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“We never wanted to be just another jewelry 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 jewelry 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.

About True Diamond

Founded in 2024 by Darayus Mehta and Parin Shah, True Diamond wants to make jewelry shopping modern and easy for today's Indian buyers. The brand focuses on new designs, quality materials, bold style, and affordable luxury. 

It has opened stores in Mumbai, Hyderabad, and Noida, with plans to open more in other big cities.

The Mumbai-based True Diamond sells many products like rings, earrings, pendants, necklaces, mangalsutras, bracelets, and also offers custom jewelry and men's collections.

The company says it has over 5,000 designs and that many customers buy from them again (1.7 times on average). They offer unique products, such as diamonds with over 160 facets, black diamonds, and more.

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