True Diamond, a lab-grown diamond jewelry business, has raised Rs 26 crore ($3 million) in a pre-Series A investment round headed by India Quotient, with participation from Titan Capital Winners Fund and Huddle Ventures, two previous investors.
A seed funding round lead by Titan Capital had previously secured $1 million, with participation from Huddle Ventures, Zeropearl Ventures, and personal investments from Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Mamaearth creator Ghazal Alagh, Abhishek Goyal, and Anmol Jain.
True Diamond stated in a press release that the money will be utilized to concentrate on offline growth and expedite its omnichannel strategy.
True Diamond, which Darayus Mehta and Parin Shah co-founded in 2024, seeks to update the jewelry shopping experience for modern Indian customers. The brand emphasizes innovative design and materials, daring content, and affordable luxury. Retail locations have already been opened in Hyderabad, Noida, and Mumbai, and more are planned for other major cities.
Among the many items that the Mumbai-based company sells are tennis bracelets, pendants, necklaces, earrings, rings, bracelets, and mangalsutras. Men’s collections and personalized jewelry are also offered by the firm.
True Diamond asserts that it has a 1.7x customer repeat rate and has amassed a catalog of over 5,000 styles. Innovative products with distinctive introductions, such as black diamonds and more than 160-faceted Portuguese diamonds, are available from the brand.
