The freshly raised capital will fuel True Diamond’s omni-channel strategy, particularly its offline retail expansion
Mumbai: True Diamond, a Mumbai-based LGD brand, has secured Rs 26 crore in a pre-Series A funding round led by India Quotient. Existing investors Titan Capital Winners Fund and Huddle Ventures also participated in the round, according to an ET Retail report.
Founded by Darayus Mehta and Parin Shah, the Mumbai-based start-up focuses on sustainability, design innovation, and high-quality craftsmanship in the lab-grown diamond segment. Its offerings span rings, earrings, pendants, necklaces, mangalsutras, bracelets—including tennis bracelets—and also men’s collections and custom-designed pieces.
With a growing customer base, the company claims to have built a catalogue of over 5,000 designs and achieved a 1.7x customer repeat rate.
“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,” said Parin Shah, co-founder, True Diamond. The freshly raised capital will fuel True Diamond’s omni-channel strategy, particularly its offline retail expansion.
Commenting on the investment, Sahil Makkar of India Quotient said, “We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewellery 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 omni-channel retailer within this segment, and we are thrilled to be a partner in this journey.”
Shiv Kapoor, Vice President at Titan Capital Winners Fund, added, “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.”
Founded in early 2024 by Darayus Mehta and Parin Shah, the brand currently operates stores in Mumbai, Hyderabad, and Noida, with more outlets planned across major metro cities.
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