True Diamond, a leading player in the lab-grown diamond industry, has secured $1 million in seed funding led by Titan Capital.
Huddle Ventures, Zeropearl Ventures and others participate
The funding round also saw participation from prominent venture capital firms, including Huddle Ventures and Zeropearl Ventures, as well as personal investments from key industry figures. The newly acquired capital will be used to strengthen True Diamond’s team, increase its brand visibility, and create a distinctive retail experience.
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Further, the company plans to onboard jewelry consultants, designers, and sales teams, along with launching exclusive boutique outlets in Mumbai and Delhi NCR. Additionally, True Diamond aims to invest further in branding and marketing efforts to attract sustainability-conscious consumers.
To expand team, establish boutique locations – Co-founder
Meanwhile, Parin Shah, Co-Founder of True Diamond, released a statement regarding funding, saying, “Darayus Mehta, my Co-Founder and I are humbled to have earned the trust of such distinguished investors at this early stage of our brand. This funding will enable us to expand our team, establish boutique locations, and execute strategic marketing initiatives to strengthen our brand presence.”
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In addition, a Titan Capital spokesperson shared, “Lab-grown diamonds are opening up unprecedented opportunities in the jewelry market, especially in India, where consumer demand is surging year-on-year. True Diamond is well-positioned to lead this shift, offering ethically sourced, affordable luxury to a new generation of customers.”
“True Diamond has focussed on three key pillars, garnering incredible customer love by displaying exceptional product quality, superior design, and meticulous customer service,” added Sanil Sachar, Founding Partner, Huddle Ventures.
Since starting in January, True Diamond has quickly created a catalog of 5,000 customizable designs, achieved a customer repeat purchase rate of 1.7 times, and expanded across India. The company is set for further growth, focusing on the evolving jewelry market driven by ethical and sustainable choices.
