True Diamond Raises $1 Million Seed Funding Led by Titan Capital
- ByStartupStory | November 28, 2024
True Diamond, a Mumbai-based startup specialising in lab-grown diamond jewellery, has successfully raised USD 1 million in its seed funding round. The round was led by Titan Capital, with participation from Huddle Ventures, Zeropearl Ventures, and notable angel investors including Ashutosh Valani, Priyank Shah, Aashka Goradia Goble, Ghazal Alagh (founder of Mamaearth), Abhishek Goyal, and Anmol Jain.
Co-founded in January 2024 by Parin Shah and Darayus Mehta, True Diamond plans to utilise the funds to build a skilled team, enhance its brand presence, and expand its retail footprint with exclusive boutique outlets in Mumbai and Delhi NCR. A significant portion of the funding will also be allocated towards marketing and branding initiatives and the hiring of jewellery consultants and designers.
“True Diamond is built on the principles of sustainability, innovation, and exceptional quality. This funding will enable us to scale our operations, establish a stronger retail presence, and build a premium brand that resonates with modern, ethical consumers,” said Parin Shah, Co-founder of True Diamond.
True Diamond specialises in lab-grown diamonds that are ethically produced to match the physical and optical properties of natural diamonds. The company offers a vast catalogue of over 5,000 designs, including rings, earrings, pendants, necklaces, and men’s collections. With a strong customer base and a repeat purchase rate of 1.7 times, the company aims to redefine the luxury jewellery market in India.
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