When was True Diamond founded?

True Diamond was founded in 2024 and raised its 1st funding round within a year of its incorporation.

Where is True Diamond located?

True Diamond is headquartered in Mumbai, India. It is registered at 203,Varma House, Konark Residency, Vileeparle (East), Mumbai, Mumbai, Maharashtra, India, 400057.

Which legal entities is True Diamond associated with?

True Diamond is associated with TRUECARAT DIAMONDS PRIVATE LIMITED.

How many employees does True Diamond have?

As of Aug 01, 2025, the latest employee count at True Diamond is 35.

Is True Diamond a funded company?

True Diamond is a funded company, having raised a total of $4M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Nov 06, 2024.

How much is True Diamond worth?

The latest valuation of True Diamond is $***** as of Jun 06, 2025.

When was the latest funding round of True Diamond?

True Diamond's latest funding was a $***** Seed round on May 10, 2025, with participation from 3 investors.

What is the annual revenue of True Diamond?

Annual revenue of True Diamond is between ₹10 Cr and ₹50 Cr as on Mar 31, 2026

Where does True Diamond rank among its competitors?

True Diamond ranks 3rd amongst 67 active competitors, of which 13 are funded. It stands 3rd in terms of total funding among its competitors. The most recent competitor to raise funding was Limelight, which secured $28.9M in Jul, 2026.

Who are the top competitors of True Diamond?

True Diamond's top competitors include Limelight, Jewelbox and Lucira Jewelry. Among them, Limelight secured the most recent funding round in July, 2026.

True Diamond - 2026 Company Profile, Team, Funding, Competitors & Financials

True Diamond is a seed company based in Mumbai (India), founded in 2024 by Parin Shah and Darayus Mehta. It operates as a Retailer of designer diamond jewellery featuring lab-grown and natural stones. True Diamond has raised $4M in funding from India Quotient and Titan Capital, with a current valuation of $*****. The company has 67 active competitors, including 13 that are funded. Its top competitors include companies like Limelight, Jewelbox and Lucira Jewelry.

Company Details

Retailer of designer diamond jewellery featuring lab-grown and natural stones. The company offers a wide range of solitaire rings, bands, and cocktail jewellery crafted with various diamond shapes and gold types. It provides certified diamond products, including options for engagement, wedding, and anniversary gifting. The business focuses on providing transparent information regarding diamond origins and quality standards.

Website: truediamond.in
Social
Email ID: *****@truediamond.in
Phone Number: +91 **********
Registered Address: 203,Varma House, Konark Residency, Vileeparle (East), Mumbai, Mumbai, Maharashtra, India, 400057

Key Metrics

Founded Year

2024

Location

Mumbai, India

Stage

Seed

Total Funding

$4M in 2 rounds

Latest Funding Round

Seed, May 10, 2025, $*****

Post Money Valuation

$***** as on Jun 06, 2025

Investors

India Quotient & 17 more

Ranked

3^rd among 67 active competitors

Annual Revenue

₹10 - ₹50 Cr as on Mar 31, 2026

Employee Count

35 as on Aug 01, 2025

Similar Companies

Emori & 28 more

View True Diamond's full profile

True Diamond is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
TRUECARAT DIAMONDS PRIVATE LIMITED CIN: U32112MH2023PTC411496 , India, Active	Oct 04, 2023	₹10 - ₹50 Cr (As on Mar 31, 2026)	35 (As on Aug 01, 2025)

True Diamond has raised a total funding of $4M over 2 rounds. Its first funding round was on Nov 06, 2024. Its latest funding round was a Seed round on May 10, 2025 for $*****. 3 investors participated in its latest round. True Diamond has 6 institutional investors and 12 angel investors.

Here is the list of recent funding rounds of True Diamond:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
May 10, 2025	8656883	Seed	3845199	7624755	4584864	6776410
Nov 06, 2024	3531112	Seed	5900636	7591487	Titan Capital	Huddle Ventures & 14 more

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View details of True Diamond's funding rounds and investors

The founders of True Diamond are Parin Shah and Darayus Mehta.

Here are the details of True Diamond's key team members:

Parin Shah: Co-Founder & Director of True Diamond. They serve on the board of 1 company.
Contact Info: 2 email addresses and 1 phone number
Darayus Mehta: CO-FOUNDER & DIRECTOR of True Diamond. They serve on the board of 1 company.
Contact Info: 1 phone number

True Diamond's Board of Directors

True Diamond's board has 2 active members. Parin Shah and Darayus Mehta are part of team.

Here is the list of True Diamond's board of directors:

Name	Type	Representing	Status	Duration
Parin Shah	Team	-	Current	2y 10m
Darayus Mehta	Team	-	Current	2y 10m

View details of True Diamond's Founder profiles and Board Members

True Diamond's employee count trend

True Diamond has 35 employees as of Aug 25. Here is True Diamond's employee count trend over the years:

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Top competitors of True Diamond include Limelight, Jewelbox and Lucira Jewelry. Here is the list of Top 10 competitors of True Diamond, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Limelight 2019, Mumbai (India), Series B	Online retailer of lab-grown diamond rings, earrings, pendants, and more	$77.9M	Bhathwari Group, Hok Global & 98 others	67/100
2nd	Jewelbox 2022, Kolkata (India), Seed	Online platform offering lab-grown diamond jewellery	$3.62M	V3 Ventures, JITO Incubation & Innovation Foundation ... & 30 others	65/100
3rd	True Diamond 2024, Mumbai (India), Seed	Retailer of designer diamond jewellery featuring lab-grown and natural stones	$4M	India Quotient, Titan Capital & 16 others	62/100
4th	Lucira Jewelry 2025, Mumbai (India), Seed	Retailer of lab grown diamond jewelry including rings and necklaces	$5.5M	Blume Venture, Spring & 3 others	56/100
5th	Firefly Diamonds 2023, Mumbai (India), Seed	Online brand of lab-grown diamond jewelry	$3M	WestBridge Capital & 3 others	50/100
6th	Reia Diamonds 2023, Bengaluru (India), Seed	Internet first brand of diamond jewellery	$225K	Venture Catalysts & 1 others	47/100
7th	Onya 2024, Bengaluru (India), Seed	Online retailer of lab-grown diamond jewellery including rings, necklaces and earrings	$617K	Stride Ventures, Zeropearl & 6 others	46/100
8th	Coluxe 2025, Delhi (India), Seed	Online retailer of fine jewellery featuring lab-grown diamonds and gemstones	-	Startup Sherpas & 6 others	44/100
9th	Emori 2023, Gurugram (India), Seed	Retailer of lab grown diamond jewelry and gold accessory items	$333K	-	41/100
10th	Zinara 2023, Delhi (India), Seed	Online retailer of lab-grown diamond jewellery set in gold vermeil	-	Inflection Point Ventures, IIMA Ventures	40/100

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Founders (largest shareholder) own 51.50%, Funds own 29.55%, Angels own 8.97% and ESOP Pool own 9.99%. The net worth of True Diamond's founders is INR 55.6Cr as of Jun 06, 2025.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	51.50%	55.6Cr	5179629	3372369	5605184	6857165
Darayus Mehta	8583120	2338683	5092680	5625259	7923284	1845807
Parin Shah	3187574	7786228	2517683	2353257	7715209	2322600
Fund	29.55%	31.9Cr	1573422	3819566	5102881	3607919
India Quotient	8340249	4042241	1122295	6939179	4028805	6222021
Huddle Ventures	3837458	9531178	7906606	7062688	9186831	1311427
Titan Capital	11	97	41	18	75	64
Angel	8.97%	9.67Cr	4058440	6527445	9624437	8045521
ESOP Pool	9.99%	10.8Cr	6481256	2769158	9838235	7653607
Total	100.00%	108Cr	6437282	1804963	5258161	6339311