National News
True Diamond Secures ₹26 Crore in Pre-Series a Funding to Fuel Omnichannel Expansion
Led by India Quotient, the funding round will accelerate offline growth and support True Diamond’s mission to redefine lab-grown diamond jewellery retail.
Lab-grown diamond jewellery brand True Diamond has raised ₹26 crore ($3 million) in a pre-Series A funding round led by venture capital firm India Quotient, with participation from existing investors Titan Capital Winners Fund and Huddle Ventures.
The fresh capital will be used to fast-track True Diamond’s omnichannel growth strategy, with a focus on expanding its physical retail presence. The brand already operates stores in Mumbai, Hyderabad, and Noida, and aims to establish outlets across other metro cities in the near future.
Founded in early 2024 by Parin Shah and Darayus Mehta, True Diamond offers a wide range of products including rings, earrings, pendants, necklaces, mangalsutras, bracelets, and tennis bracelets — all crafted with high-quality lab-grown diamonds.
Parin Shah, founder of True Diamond, shared the vision behind the brand: “We never wanted to be just another jewellery 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 of India Quotient added: “We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewellery market. 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.”
National News
Global and Domestic Precious Metals Trading Under Pressure
The Primary Catalyst Driving This Downturn Is The Surging Cost Of Crude Oil, Which Is Escalating Energy Crisis Fears.
Global and domestic precious metals are trading under pressure as renewed upside momentum in crude oil prices keeps broader inflationary risks elevated.
MCX gold touched an intraday low of Rs 1,44,467 per 10 grams and is down by 1%. Meanwhile, MCX silver price crashed sharply by over 2% to hit an intraday low of Rs 2,044,460 per 1Kg
In international spot markets, gold is down 1.0% and struggling to hold $4,112 per ounce, while spot silver experienced a sharp sell-off of 2.2%, trading around $56.60 per ounce.
The primary catalyst driving this downturn is the surging cost of crude oil, which is escalating energy crisis fears. High energy costs reinforce sticky inflation, prompting expectations that global central banks will maintain restrictive monetary stances for longer.
Because holding non-yielding metals becomes more expensive when interest rates remain elevated, both gold and silver are seeing selling pressure, with silver facing additional headwinds due to concerns surrounding industrial demand.
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