Latest news with #ParinShah
Fashion Network
3 days ago
- Business
- Fashion Network
True Diamond raises Rs 26 crore in pre-series A funding round
Lab-grown diamond jewellery brand True Diamond has raised Rs 26 crore ($3 million) in a pre-series A funding round led by India Quotient, with participation from existing investors Titan Capital Winners Fund and Huddle Ventures. The company will utilise the funds to accelerate its omnichannel strategy, focusing on offline expansion. It already has retail outlets in Mumbai, Hyderabad, and Noida with plans to launch more stores across metro cities. Commenting on the funding, Parin Shah, founder of True Diamond in a statement said, 'We never wanted to be just another jewellery brand. 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.' Sahil Makkar of India Quotient added, 'We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewellery market. Under the leadership of Parin and Darayus, we've observed True Diamond evolving into an aspirational omnichannel retailer within this segment, and we are thrilled to be a partner in this journey." Founded in early 2024 by Darayus Mehta and Parin Shah, True Diamond offers a variety of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, tennis bracelets, amongst others.
Time of India
4 days ago
- Business
- Time of India
Jewellery startup True Diamond raises Rs 26 crore in pre-Series A funding round
New Delhi: Lab-grown diamond jewellery brand True Diamond has raised Rs 26 crore in a pre-Series A funding round led by India Quotient , with participation from existing backers Titan Capital Winners Fund and Huddle Ventures, as it sets its sights on aggressive offline expansion, according to a media release on Wednesday. The company plans to use the capital to accelerate its omnichannel strategy, with a specific focus on offline growth. It has already opened retail outlets in Mumbai, Hyderabad, and Noida, and intends to expand across metro cities to offer immersive brand experiences. Parin Shah , Co-founder of True Diamond said, '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.' Founded in early 2024 by Darayus Mehta and Parin Shah, the Mumbai-based startup aims to modernize the jewellery experience for Indian consumers through high-quality lab-grown diamonds, design innovation, and a differentiated brand journey.
Entrepreneur
5 days ago
- Business
- Entrepreneur
True Diamond Bags INR 26 Cr from India Quotient, Titan Capital, and Huddle Ventures
The fresh capital will be deployed to accelerate the Mumbai-based brand's omnichannel growth, particularly focusing on expanding offline retail presence. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Lab-grown diamond jewelry brand True Diamond has successfully raised INR 26 crore in its pre-series A funding round, led by India Quotient with continued support from existing investors Titan Capital Winners Fund and Huddle Ventures. The fresh capital will be deployed to accelerate the brand's omnichannel growth, particularly focusing on expanding offline retail presence. With retail stores already launched in Mumbai, Hyderabad, and Noida, the brand plans to establish more outlets across India's metro cities, aiming to deliver immersive brand experiences blending design, storytelling, and exceptional service. True Diamond was co-founded in January 2024 by Parin Shah and Darayus Mehta, and is headquartered in Mumbai. The company was founded with a mission to modernise India's jewelry experience through sustainable luxury, cutting-edge design, and material innovation. True Diamond offers a diverse range of certified lab-grown diamond jewelry, including rings, earrings, necklaces, bracelets, pendants, tennis bracelets, mangalsutras, and customised pieces, including a men's collection. "We never wanted to be just another jewelry brand," said Parin Shah, Co-founder of True Diamond. "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." Since its inception, True Diamond claims to have built an impressive catalog of over 5,000 unique designs and achieved a 1.7x customer repeat rate, showcasing growing customer loyalty. Their standout innovations include offerings like 160+ facet Portuguese diamonds and black diamonds, appealing to India's new-age, conscious, and design-savvy consumers. Sahil Makkar of India Quotient noted, "We see immense potential in the lab-grown diamond and gold combination... True Diamond is evolving into an aspirational omnichannel retailer." Shiv Kapoor, VP at Titan Capital, added, "True Diamond has the chance to be the go-to brand for customers who want accessible luxury without compromising on design or experience."
