4th June 2025 Mumbai, India True Diamond, one of India’s fastest-growing lab-grown diamond jewellry brands, has raised ₹26 crore in its Pre-Series A round led by India Quotient, with participation from existing investors Titan Capital Winners Fund and Huddle Ventures.
Founded in early 2024 by Darayus Mehta and Parin Shah, True Diamond was born out of a shared vision to modernise the jewelry experience for contemporary Indian consumers. 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, a testament to the brand’s growing loyalty. The brand has been at the forefront of innovation with unique launches like the 160+ facet Portuguese diamond, black diamonds, and many more.
“We never wanted to be just another jewelry brand,” says Parin Shah, Co-founder 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.”
The capital will be used to accelerate True Diamond’s omnichannel strategy, focusing on offline expansion. The brand has already launched 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.
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, further affirmed Sahil Makkar, India Quotient
“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 “added Shiv Kapoor, Vice President at Titan Capital Winners Fund.
True Diamond continues to challenge category conventions by building a brand that resonates with India’s new-age, conscious, and design-savvy consumers—delivering quality, sustainability, and personalization in every piece.
