Fiona Diamonds, a pioneer in the lab-grown diamond industry, has secured a significant boost with a Rs 6 crore seed funding round led by Venture Catalysts. This investment marks a crucial milestone for the ethical luxury brand as it continues to disrupt the traditional diamond market.
Alongside Venture Catalysts, the funding round saw participation from prominent investors, including AC Ventures, Anikarth Ventures, Shantanu Deshpande of Bombay Shaving Company, Eco Brilliance, and Suraj Nalan, all of whom recognized the potential of Fiona Diamonds’ innovative approach.
Founded by Parag Agrawal and Saurabh Agrawal, Fiona Diamonds stands out in jewellery by offering customers a meticulously curated selection of solitaire jewellery made with lab-grown diamonds. This approach ensures exceptional quality and craftsmanship and aligns with the growing demand for sustainable and ethical luxury goods.
The infusion of funds will catalyze Fiona Diamonds’ expansion efforts, enabling the brand to reach new markets and innovate further within the ethical luxury segment. With a strategic focus on offline and online channels, Fiona Diamonds has positioned itself as a digital-first brand. Its flagship stores in Mumbai, Delhi, and Bengaluru and its substantial presence in critical cities serve as touchpoints for customers seeking unique and responsibly sourced jewellery.
Despite the challenges posed by the pandemic, Fiona Diamonds has managed to cultivate a loyal customer base exceeding 10,000 individuals. This demonstrates the appeal of lab-grown diamonds and the brand’s commitment to delivering exceptional value and service.
In a world increasingly conscious of environmental and social impact, Fiona Diamonds emerges as a beacon of innovation and responsibility within the luxury market. With Venture Catalysts’ support and the backing of other investors, Fiona Diamonds is poised to redefine the standards of luxury jewellery while paving the way for a more sustainable future.
