Lab-Grown Diamonds Shine Bright with USD 1M Funding for True Diamond

True Diamond, a startup that specializes in lab-grown diamonds, received USD 1 million in seed funding. Led by Titan Capital, the funding aims to expand True Diamond's team, establish outlets in Mumbai and Delhi NCR, and bolster marketing. True Diamond plans to cater to sustainability-conscious consumers.

True Diamond, a startup at the forefront of the lab-grown diamond industry, has successfully secured USD 1 million in a seed funding round spearheaded by Titan Capital. This marks a significant step in its growth journey.

The funding round also attracted investments from Huddle Ventures, Zeropearl Ventures, and a group of angel investors, including founders from RENÃ E Cosmetics, Mamaearth, Tracxn, and Astrotalk. The company disclosed plans to utilize the funds for team expansion, establishing boutique locations in Mumbai and Delhi NCR, and amplifying marketing strategies.

Since its inception in January, True Diamond has curated a catalogue featuring 5,000 customizable designs and achieved a repeat purchase rate of 1.7 times. Co-Founder Parin Shah underscored the potential to transform True Diamond into a significant player in the jewelry industry, emphasizing their commitment to sustainability-conscious consumers.

(With inputs from agencies.)