• True Diamond raised ₹26 crore in a pre-Series A round led by India Quotient, with participation from Titan Capital Winners Fund and Huddle Ventures.
  • The funds will fuel offline expansion as part of the brand's omnichannel strategy, with stores already open in Mumbai, Hyderabad, and Noida.

Lab-grown diamond jewellery startup True Diamond has secured ₹26 crore in a pre-Series A funding round led by India Quotient, with continued support from existing investors Titan Capital Winners Fund and Huddle Ventures.

Founded in early 2024 by Darayus Mehta and Parin Shah, True Diamond is building a next-generation jewellery brand centred on sustainability, innovation, and quality.

The startup offers a wide range of lab-grown diamond products including rings, earrings, pendants, necklaces, mangalsutras, bracelets, and men’s jewellery. Customisation is also a key part of its offering.

True Diamond has quickly developed a catalogue of over 5,000 designs and claims a 1.7x customer repeat rate, showcasing rising consumer traction. The brand’s focus is to redefine luxury jewellery for the modern, value-conscious customer.

“We never wanted to be just another jewelry brand,” said Parin Shah. “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.”

The fresh capital will be used to accelerate True Diamond’s omnichannel strategy, especially its offline retail expansion. The brand has already established stores in Mumbai, Hyderabad, and Noida, with more outlets expected in other metro cities.

Backing the brand’s growth potential, Sahil Makkar of India Quotient said,

“We see immense potential in the lab-grown diamond and gold combination as a category… and we are thrilled to be a partner in this journey.”

Shiv Kapoor of Titan Capital Winners Fund added,

“True Diamond has the chance to be that brand,” emphasising the importance of accessible luxury, strong design, and an aspirational retail experience.

Edited by Annette George