DiamondBuzz
Solitario Secures $3.6 Million in Pre-IPO Funding to Accelerate Growth
The lab-grown diamond brand plans to expand its retail presence, enhance branding, and diversify its product offerings with the new capital
Solitario, a lab-grown diamond jewelry brand co-founded by Ricky Vasandani and actor Vivek Oberoi, has raised $3.6 million in pre-IPO funding, valuing the company at approximately $18.3 million. The investment round saw participation from high-profile investors, including Neeraj Gupta, Seema Manish Nuwal, and several ultra-high-net-worth individuals.
The funds will be used to expand Solitario’s retail network, both in India and internationally, as well as to strengthen its branding, marketing initiatives, and product portfolio. The company also plans to enhance its manufacturing capabilities to keep up with growing demand.
Founded in 2023, Solitario specializes in sustainable and eco-conscious diamond jewelry, offering a range of products including necklaces, rings, earrings, bracelets, and pendants. The company has quickly established a presence in the market, reporting revenue growth from Rs 24.3 crore in FY 2023 to Rs 52 crore in FY 2024.
Solitario currently operates 18 stores across 10 major cities in India, along with 38 outlets in international locations such as Dubai, Malaysia, and Spain. The company runs a 30,000 sq. ft. manufacturing facility in Surat, which employs over 300 people.
Â
DiamondBuzz
QDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
The Two Exchanges Will Establish A Framework To Deepen Connection Across Their Respective Memberships, Exchange Invitations To Industry Events
The Qatar Diamond Exchange (QDE) has signed a memorandum of understanding with the Borsa Diamanti d’Italia to bolster trade and expand commercial ties between their members, , marking its first strategic alliance with a European bourse.
The agreement was signed by QDE Director Ghanim Nasser Al-Saadi and Italian Diamond Exchange President Luigi Cosma during the World Jewellery Confederation’s (CIBJO) 100th anniversary event in Vicenza, Italy.
Under the terms of the deal, the two exchanges will establish a framework to deepen connection across their respective memberships, exchange invitations to industry events, and facilitate access to tenders, auctions, and viewings through reciprocal visits.
The partnership also aims to boost consumer confidence in natural diamonds and colored gemstones by reinforcing compliance with global sector standards, including guidelines set by the Responsible Jewellery Council (RJC) and the World Diamond Council’s (WDC) System of Warranties.
The deal follows similar pacts signed by the QDE last month with diamond bourses in Singapore, Shanghai, and Tokyo as part of an effort to broaden its global trading network.
Bollywood Meets Business Legacy: Ranbir Kapoor Praises PNG Jewellers Chairman’s Raw New Memoir, Choosing Gold
QDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
Mavitrra Launches Ganpati-Inspired Fine Jewellery Collection For Ganesh Chaturthi, Blending Tradition With Contemporary Design
Mavitrra Launches Ganpati-Inspired Fine Jewellery Collection For Ganesh Chaturthi, Blending Tradition With Contemporary Design
Bollywood Meets Business Legacy: Ranbir Kapoor Praises PNG Jewellers Chairman’s Raw New Memoir, Choosing Gold
QDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
-
National News40 minutes agoMavitrra Launches Ganpati-Inspired Fine Jewellery Collection For Ganesh Chaturthi, Blending Tradition With Contemporary Design
-
GlamBuzz13 minutes agoBollywood Meets Business Legacy: Ranbir Kapoor Praises PNG Jewellers Chairman’s Raw New Memoir, Choosing Gold
-
DiamondBuzz27 minutes agoQDE, Borsa Diamanti D’Italia Signed MoU To Bolster Trade and Expand Commercial Ties
-
DiamondBuzz2 hours agoDe Beers Collaborates With Mabeo Studio And Botswana Master Basket Weaver Shakunona Parata At Homo Faber 2026
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.