True Diamond Raises $1 Mn In Seed Funding

New Delhi: True Diamond, a startup specialising in lab-grown diamonds, on Tuesday said it has secured $1 million in a seed funding round led by Titan Capital.

The funding round also saw participation from Huddle Ventures, Zeropearl Ventures, and several notable angel investors including founders from RENĂ E Cosmetics, Mamaearth, Tracxn, and Astrotalk.

The funding will be used to expand the team, establish boutique outlets in Mumbai and Delhi NCR, and enhance marketing efforts, the company said in a statement. Since its incorporation in January, True Diamond has already developed a catalogue of 5,000 customisable designs and achieved a customer repeat purchase rate of 1.7 times, it added. Parin Shah, Co-Founder of True Diamond, said the investment would help the company build its brand and become a significant player in the jewellery industry.