Liquid Diamonds, a Mumbai, India-based provider of a B2B diamond sourcing platform, raised Rs. 9 Crores ($1.1M) in funding.
Backers included Varun Alagh of Mamaearth, Aakrit Vaish of Haptik and Miten Sampat of CRED.
The company intends to use the funds to expand operations and its business reach.
Founded by Kashyap Mehta, Mark Molloy and Chetan Gupta, Liquid Diamonds is a technology startup in the diamond industry with offices in New York and Mumbai that offers a B2B sourcing platform for diamond and jewelry businesses. It aims to bring price transparency and liquidity to diamonds, enabling buyers to purchase at fair market value quickly and easily, while offering suppliers the opportunity to liquidate their inventory instantly.
Empowered by a patented universal continuous double auction technology, the platform ensures diamond buyers get the best price by putting suppliers into open competition with each other. On the supply side, they offer a SaaS-based pricing co-pilot that helps diamond suppliers price their diamonds competitively using artificial intelligence (AI) and machine learning.
FinSMEs
31/05/2024