Liquid Diamonds, a Mumbai-based provider of a B2B diamond sourcing platform, has recently raised Rs. 9 Crores ($1.1M) in funding, marking a significant milestone in its growth trajectory.
The funding round saw participation from notable backers including Varun Alagh of Mamaearth, Aakrit Vaish of Haptik, and Miten Sampat of CRED, indicating a strong vote of confidence in Liquid Diamonds’ vision and potential within the diamond industry.
Liquid Diamonds intends to utilize the funds to expand its operations and business reach, further solidifying its position as a leading player in the market. Founded by Kashyap Mehta, Mark Molloy, and Chetan Gupta, Liquid Diamonds is a technology startup with offices in New York and Mumbai, offering a B2B sourcing platform for diamond and jewelry businesses.
The platform aims to revolutionize the industry by bringing price transparency and liquidity to diamonds, enabling buyers to purchase at fair market value quickly and easily, while providing suppliers with the opportunity to liquidate their inventory instantly.
Powered by a patented universal continuous double auction technology, Liquid Diamonds’ platform ensures that diamond buyers obtain the best price by putting suppliers into open competition with each other. On the supply side, the company offers a SaaS-based pricing co-pilot that leverages artificial intelligence (AI) and machine learning to help diamond suppliers competitively price their diamonds.
With this recent funding injection, Liquid Diamonds is poised for significant growth and innovation, as it continues to disrupt and transform the diamond industry landscape.