True Diamond, a lab-grown diamond jewellry brand, has raised ₹26 crore in its pre-Series A funding round led by India Quotient. The round also saw participation from existing investors Titan Capital Winners Fund and Huddle Ventures.
The fresh capital will be used to accelerate its omnichannel strategy, focusing on offline expansion.
Previously in December 2024, True Diamond has raised $1 million in its seed funding round led by led by Titan Capital with participation from Huddle Ventures, Zeropearl Ventures, and angel investors, including Mamaearth founder Ghazal Alagh, Ashutosh Valani, Priyank Shah, and others.
Founded in January 2024 by Darayus Mehta and Parin Shah, True Diamond specializes in lab-grown diamond jewellery, offering pieces that replicate the chemical, physical, and optical properties of natural diamonds.
With a strong focus on design and material innovation, bold content and accessible luxury, the company has already built a catalog of over 5,000 designs and achieved a 1.7x customer repeat rate.
The brand has launched its retail outlets in Mumbai, Hyderabad, and Noida, with more stores planned across metro cities. The aim is to offer immersive brand experiences that seamlessly integrate design, storytelling, and service.
Parin Shah, Co-founder True Diamond, said, “We never wanted to be just another jewelry 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, Vice President, India Quotient, said, “We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewelry 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 omnichannel retailer within this segment, and we are thrilled to be a partner in this journey.”
Shiv Kapoor, Vice President at Titan Capital Winners Fund, said, “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.”
