WeCare Foundation, under the leadership of Saad Kassis Mohamed, has achieved a significant milestone by securing $350,000 dedicated to propelling innovation within the lab-grown diamond sector. This funding marks a pivotal moment in the foundation’s mission to promote sustainability and progress in the industry.

Saad Kassis Mohamed, at the helm of WeCare, spearheads this initiative to support research and development in lab-grown diamonds. With a focus on empowering academia, startups, and mid-sized firms in this domain, the funding strategy is tailored to foster growth and collaboration, leveraging strategic partnerships with esteemed research institutions and key industry figures.

“WeCare Foundation is dedicated to driving innovation and sustainability in the lab-grown diamond industry. Through customized funding solutions and access to market opportunities, we empower small to mid-sized players to thrive in this dynamic sector,” says Saad Kassis Mohamed.

Market research from Teji Mandi forecasts the lab-grown diamond market to grow to 160 million carats by 2030, signalling a rising preference for lab-grown diamonds, particularly in Asia.

Red Capital and individual backers participated in the funding campaign, underscoring broad support for WeCare Foundation’s mission to foster innovation and sustainability in the lab-grown diamond industry.