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True Diamond raises ₹26 crore in Pre-Series A to power omnichannel expansionTrue Diamond, a lab-grown diamond jewellery startup, has secured ₹26 crore in Pre-Series A funding, aiming to scale its omnichannel expansion with a strong focus on offline retail growth.By Aishwarya Anand   June 4, 2025, 6:50:06 PM IST (Published)2 Min ReadTrue Diamond, a lab-grown diamond jewellery startup redefining modern luxury for Indian consumers, has secured ₹26 crore in its Pre-Series A funding round led by early-stage venture capital firm India Quotient, with participation from Titan Capital Winners Fund and Huddle Ventures.

Founded in early 2024 by Parin Shah and Darayus Mehta, True Diamond claims to have launched over 5,000 unique designs and achieved a 1.7x customer repeat rate.

“We never set out to be just another jewelry label,” said Shah, adding, “this brand is about creating a new-age, accessible luxury experience—through lab-grown diamonds, striking design, digital-first storytelling, and now, deeply engaging retail spaces. With this capital, we’re ready to scale that vision even faster.”

As per a statement, the fresh capital will be used to accelerate the company’s omnichannel expansion, with a strong focus on offline retail. True Diamond said it has already opened flagship stores in Mumbai, Hyderabad, and Noida, with plans to enter additional metros in the coming quarters.

“We see tremendous potential in the lab-grown diamond and gold category. It offers the right mix of sustainability, affordability, and design-led value that today’s discerning consumers seek,” said Sahil Makkar, Partner at India Quotient.

“As early backers, we’re excited to double down on our belief in True Diamond,” added Shiv Kapoor, Vice President at Titan Capital Winners Fund.

The company offering a wide product line—from rings and necklaces to mangalsutras and men's jewelry—with bespoke customisation and cutting-edge design.

India's lab-grown diamond (LGD) market is experiencing significant growth, driven by increasing consumer demand for sustainable and affordable alternatives to natural diamonds. In 2024, India's LGD jewellery market was valued at approximately $299.9 million, with projections estimating growth to $1.19 billion by 2033, reflecting a CAGR of 14.8% over the next decade.

Lab-grown diamond startups in India have attracted significant investor interest in 2025, with total funding reaching approximately $14 million, marking over 50% increase from the previous year, as per a report by Redseer.

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