True Diamond bets on lab-grown diamonds, custom design to woo young customers

True Diamond, a Mumbai-based lab-grown diamond startup founded in 2024 by Darayus Mehta and Parin Shah. The startup began as a bootstrapped venture with the founders investing Rs 1 crore at its inception. In June 2025, the brand raised Rs 26 crore in a pre-Series A funding round led by India Quotient, with participation from existing investors, Titan Capital Winners Fund and Huddle Ventures. It is channelling these funds directly into marketing and expansion plans. 

“True Diamond creates fine jewellery with fun, contemporary designs for the modern woman—young, bold, and edgy,” True Diamond co-founder Darayus Mehta tells YourStory. Within its first year, the Mumbai-based brand launched over 5,000 designs, having achieved a 1.7x repeat customer rate, with many buyers returning for a second purchase. It offers unique collections like the Lana Del Rey series, blending vintage glamour with nostalgia, along with black diamonds, experimenting with rare white-and-black combinations in India. “Young buyers preferred modern finishes that align with their personal identity,” Mehta explains. He notes that yellow gold was seen as “old-fashioned,” so the brand introduced champagne gold, a mix of white and yellow gold, which is popular globally and suits Indian skin tones well. True Diamond sells through its website and via its three physical stores in Mumbai, Hyderabad, and Noida.

The brand also offers customisation with respect to diamond size, shape, clarity, settings, gold types, and finishes. “We’ve created black gold pieces, and even crafted jewellery in 9-karat gold when requested, instead of the standard 18K or 14K,” Mehta says. 

The brand recently introduced “floating diamond” rings, an in-house concept where stones appear suspended in the air. True Diamond procures all its lab-grown diamondsfrom Surat, using only high-quality CVD diamonds (grown in a laboratory using the Chemical Vapour Deposition method) and avoiding imports from China. Once the design is finalised, a 10-14-day process helps create a detailed CAD (online 3D model) of the piece. The 40-member team then manages quality, customer feedback, and delivery.