True Diamond - About the company
True Diamond is a seed company, founded in 2024 by Darayus Mehta and Parin Shah. It operates as a Jewellery retailer specializing in natural and lab-grown diamond jewellery. True Diamond has raised $4M in funding from India Quotient and Titan Capital, with a current valuation of $*****. The company has 244 active competitors, including 23 funded and 4 that have exited. Its top competitors include companies like Limelight Diamonds, Jewelbox and Aukera.
Company Details
Jewellery retailer specializing in natural and lab-grown diamond jewellery. It includes engagement rings, solitaires, cocktail rings, earrings, pendants, bracelets, and other fine jewellery. It operates an online store and physical retail outlets across multiple Indian cities, providing services such as jewellery customization, diamond consultation, repairs, cleaning, old-gold exchange, and lifetime buyback and exchange options.
- 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
Stage
Seed
Total Funding
$4M in 2 rounds
Latest Funding Round
Post Money Valuation
$***** as on Jun 06, 2025
Investors
Ranked
4th among 244 active competitors
Annual Revenue
₹10 - ₹50 Cr as on Mar 31, 2026
Employee Count
46 as on May 01, 2026
Legal entities associated with True Diamond
True Diamond is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Reports |
|---|---|---|---|---|
TRUECARAT DIAMONDS PRIVATE LIMITED CIN: U32112MH2023PTC411496 , India, Active | Oct 04, 2023 | ₹10 - ₹50 Cr (As on Mar 31, 2026) | 46 (As on May 01, 2026) |
Sign up to download True Diamond's company profile
True Diamond's funding and investors
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 | 3029935 | Seed | 7843045 | 7682534 | 4395107 | 5369183 |
Nov 06, 2024 | 3480492 | Seed | 4898578 | 4020367 |
Access funding benchmarks and valuations. Sign up today!View details of True Diamond's funding rounds and investors
True Diamond's founders and board of directors
Founder? Claim ProfileThe founders of True Diamond are Darayus Mehta and Parin Shah.
Here are the details of True Diamond's key team members:
- Darayus Mehta: Co-Founder & Director of True Diamond. They serve on the board of 1 company.Contact Info: 1 phone number
- 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
True Diamond's Board of Directors
True Diamond's board has 3 active members. Darayus Mehta, Shiv Kapoor and Parin Shah are part of team.Here is the list of True Diamond's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 3y 1m | |
Team | - | Current | 3y 1m | |
Investor | - | Current | 1y 4m |
View details of True Diamond's Founder profiles and Board Members
True Diamond's employee count trend
True Diamond has 46 employees as of May 26. The total employee count is 12.0% more than what it was in May 25. Here is True Diamond's employee count trend over the years:
Uncover True Diamond's growth story! Sign up today!
Access Tracxn on any website
Install Tracxn ExtensionOur Google Chrome extension lets you view company details while browsing their websites
True Diamond's Competitors and alternates
Top competitors of True Diamond include Limelight Diamonds, Jewelbox and Aukera. Here is the list of Top 10 competitors of True Diamond, ranked by Tracxn score:
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!
Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st |  Limelight Diamonds 2019, Series B | Retailer of lab grown diamond jewellery | $43.5M | 67/100 | |
2nd | Jewelbox 2022, Seed | Retailer of lab-grown diamond jewellery | $4.22M | 66/100 | |
3rd |  Aukera 2023, Series B | Lab-grown diamond jewellery brand offering rings, earrings, and fine jewellery | $19.5M | 66/100 | |
4th |  True Diamond 2024, Seed | Jewellery retailer specializing in natural and lab-grown diamond jewellery | $4M | 64/100 | |
5th |  Firefly Diamonds 2023, Seed | Lab-grown diamond jewellery brand offering personalized designs and certified diamond pieces | $3M | 59/100 | |
6th | Brilliant Earth 2005, San Francisco (United States), Public | Manufacturer and online seller of jewelry made from ethically sourced diamonds | - | 58/100 | |
7th |  Ivana Jewels 2023, Seed | Lab-grown diamond jewellery brand offering certified diamond pieces in hallmarked gold | $292K | 57/100 | |
8th |  Fiona Diamonds 2003, Seed | Jewellery brand specializing in lab-grown diamond jewellery and customized designs | $3.52M | 56/100 | |
9th |  Lucira Jewelry 2025, Mumbai (India), Seed | Retailer of lab grown diamond jewelry including rings and necklaces | $5.5M | 52/100 | |
10th | Onya 2024, Seed | Retailer of lab-grown diamond jewellery featuring contemporary designs and certified gemstones | $2.23M | 52/100 |
Get insights and benchmarks for competitors of 2M+ companies! Sign up today!Looking for more details on True Diamond's competitors? Click here to see the top ones
Financials of True DiamondFY 26 Available
TRUECARAT DIAMONDS PRIVATE LIMITED, the legal entity associated with True Diamond, generated between ₹10 Cr and ₹50 Cr in revenue for the financial year ending on Mar 31, 2026. The revenue of TRUECARAT DIAMONDS PRIVATE LIMITED has a compounded annual growth rate (CAGR) of 81% in the last 1 year.
Financial Statement Summary
Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
Income Statement | |||
Revenue | 6027 | 9923 | 2011 |
Total Sales | 9449 | 8789 | 8712 |
Total Expenses | 2859 | 6178 | 7008 |
Operating Expenses | 2038 | 9194 | 5941 |
Employee Expenses | 3910 | 4498 | 1126 |
Operating Income (EBIT) | 1364 | 7833 | 6479 |
Interest Expenses | 9967 | 6363 | 6873 |
Expenses from other activities | 5555 | 5511 | 2127 |
EBITDA | 6416 | 3584 | 3884 |
Taxes | 1030 | 2560 | 7627 |
Net Profit | 9374 | 9207 | 8604 |
Balance Sheet | |||
Assets | 6127 | 4537 | 6760 |
Accounts Receivables | 8599 | 7012 | 8840 |
Inventory | 3620 | 9350 | 9128 |
Liabilities | 1292 | 3481 | 7011 |
Total Debt | 5239 | 7693 | 8585 |
Accounts Payable | 2283 | 9941 | 7564 |
Equities | 9718 | 1697 | 4843 |
Detailed Financials (Income Statement, Balance Sheet, Cashflow Statement)
True Diamond's Investments and acquisitions
True Diamond has made no investments or acquisitions yet.
Reports related to True Diamond
Here is the latest report on True Diamond's sector:
News related to True Diamond
Media has covered True Diamond for a total of 2 events in the last 1 year, 2 of them have been about company updates.
•
True Diamond Unveils A Personalised Ring Discovery Experience At Its Noida Flagship StoreLocalsamosa•Jun 22, 2026•True Diamond
•
TrueDiamond Unveils the Kashi 108 Cut™, Blending Spiritual Geometry with Contemporary ArtistryDiamondWorld•Nov 11, 2025•True Diamond
•
•
True Diamond bets on lab-grown diamonds, custom design to woo young customersYourStory•Aug 23, 2025•True Diamond
•
True Diamond raises Rs 26 crore in pre-series A funding round
Indiatimes•Jun 04, 2025•True Diamond, India Quotient, Titan Capital, Huddle Ventures
•
Lab-grown diamond startups race to build market presenceFinancial Express•Mar 24, 2025•Jewelbox, Limelight Diamonds, Fiona Diamonds, Wondr Diamonds and 3 others
•
True Diamond raises $1 Mn in seed funding roundEntrackr•Nov 26, 2024•Titan Capital, Huddle Ventures, True Diamond
Get curated news about company updates, funding rounds, M&A deals and others. Sign up today!Are you a Founder ?
FAQs about True Diamond
Explore our recently published companies
- DIV Protocol - Paris based, 2025 founded, Unfunded company
- D and H Fire - San Dimas based, 2016 founded, Funding Raised company
- Eye7 Eye Hospitals - Delhi based, 1987 founded, Unfunded company
- AiLuvio - Praha based, 2023 founded, Unfunded company
- Receptive Sports Technologies - Ludhiana based, 2022 founded, Unfunded company
- Goods For Health - Delhi based, 2025 founded, Unfunded company
