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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

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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.

 

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DiamondBuzz

Love, Light, and Legacy: Jacob & Co. Unveils the $3.4m Angel Cut Diamond Watch

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Forget everything you thought you knew about diamonds being just…sparkly. Jacob & Co. has decided to flip the script—and in true high-drama fashion, it’s not just about shine anymore, it’s about storytelling carved in stone. To mark its 40th anniversary, the maison introduces something that feels less like a gemstone and more like a manifesto: the Angel Cut. Not a remix. Not a tweak. A full-blown reinvention of how a diamond catches light—and attention.

The Angel Cut is defined by its distinctive lozenge-shaped table within a rectangular form with cut corners, designed to precisely control the movement of light. This unique geometry creates a refined, dimensional glow rather than intense sparkle, resulting in a look that is fluid, balanced, and architectural.

Meticulous calibration of crown height, pavilion depth, and facet alignment enhances internal reflection while ensuring even light distribution. By minimizing extinction and softening contrast, the cut produces a seamless, continuous radiance. Its sophisticated optical performance makes it especially effective in low-light settings, such as diamond-set watch cases, where consistent luminosity is essential.

At the heart of this innovation is Jacob Arabo himself. The Angel Cut isn’t just a technical flex; it’s a love letter. Inspired by his wife Angela, the design holds exactly 37 facets—a subtle, intimate nod to their 37-year journey together. In an industry obsessed with carats and clarity, this is something rarer: emotion engineered into geometry.

It’s this duality—precision and passion—that gives the Angel Cut its edge. It exists at the intersection of science and sentiment, where cold, calculated angles somehow translate into warmth, memory, and meaning.

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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.

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