Sourcing

2 Business-to-Business Platforms Secure Millions in Funding

SourcingMay 20, 2024

2 Business-to-Business Platforms Secure Millions in Funding

Nivoda and Liquid Diamonds both have big plans for the new capital.

Nivoda executive team at table
From left to right, Nivoda CFO Bas Lustenhouwer, CPO James Morgan, co-founder and CEO David Sutton, and co-founder and COO Andre Woons. The tech company raised $30 million in a recent round of Series B funding.
New York—Two business-to-business jewelry marketplaces recently announced that they have secured millions of dollars in funding.

London-based Nivoda, which operates a diamond and gemstone marketplace, raised $30 million in a Series B funding round.

It was led by Avenir Growth Capital and joined by existing investors Headline and Abstract Ventures, with the addition of Canaan Ventures.

“We’re on a mission to create a one-stop shop for jewelers, and this funding represents a crucial milestone in achieving that vision,” said David Sutton, co-founder and CEO of Nivoda.

Andrew Sugrue, partner at Avenir Growth Capital, highlighted the platform’s unique position in the market.

“We are thrilled to back Nivoda as they build the largest global marketplace for the jewelry industry. Nivoda serves a huge unmet need in the market, evidenced in their best-in-class retention characteristics,” he said.

Taylor Brandt, principal at Headline, described the company as “a staple to both suppliers and diamond buyers around the world with countless opportunities for expansion."

In announcing this latest round of funding, Nivoda highlighted recent milestones, including a 140 percent year-over-year increase in revenue in December. 

Its active customer base has been expanding, up 162 percent year-over-year, while its order count grew 124 percent.

Nivoda has plans for the new funding, including customer growth, market expansion, global outreach, and category expansion.

It also wants to enhance the customer experience through product enhancements and fulfillment optimizations.

Recently, the company debuted Nivoda Express, a new fulfillment service which enables two- to three-day delivery on select stones.

It has another project in the works, Memo/Appro, which would allow retailers to display and sell jewelry items in their stores without buying them outright from suppliers. It’s expected to be available sometime this year.

To support these goals, Nivoda said it plans to double the size of its team over the next year.

 Related stories will be right here … 

Another business-to-business platform connecting suppliers and retailers, Liquid Diamonds, has raised additional funding.

Liquid Diamonds, a New York-based diamond sourcing platform, secured $1.1 million.

The funding round was led by select members of the New York Angels, a group of New York-based financiers who “believe the diamond industry has been left behind compared to other industries, such as automotive, finance, and pharmaceuticals,” said the company.

Liquid Diamonds said its goal is to bring price transparency and liquidity to diamonds, letting diamond buyers buy at fair market value while suppliers can liquidate their inventories.

Its reverse auction system gives retailers access to global suppliers, sourcing stones from small diamond manufacturers in India and Botswana.

“Our vision is to democratize the diamond market, where buyers always get a fair market value regardless of whether they are buying five or 500 diamonds,” said Kashyap Mehta, CEO of Liquid Diamonds.

“This enhanced focus on retailers is an exciting evolution not only for Liquid Diamonds, but for the industry as a whole. Our team worked to streamline the platform for greater usability, and we are happy to report we are already seeing an increase in both time spent on the platform as well as a strong ROI in terms of new retailer clients taking advantage of our diamond buying services.” 

Donna Redel, a member of the New York Angels and Liquid Diamonds’ board of directors, said she is “optimistic about the future of the diamond industry, as modern technology is slowly being accepted by a dated industry that is not currently data-rich.”

Technology and data can benefit every part of the value chain, she said.

The Latest

2025 National Jeweler Retailer Hall of Fame inductees
Events & AwardsJun 06, 2025
Here Are the 2025 Retailer Hall of Fame Inductees

This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.

Harwell Godfrey Granny Square Eleanor Necklace
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

 Laura Gallon Joaillerie “Dynasty” ring, Bijules “Compass” bolo tie, Löf “The Orbitalis” ring
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design Atelier

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

DCA-student-cert-NJ1872x1052-2.png
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry Business

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

Daymond John
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las Vegas

The entrepreneur and “Shark Tank” star will share his top tips for success.

Weekly QuizJun 05, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Vaishali Banerjee and Pallavi Sharma
MajorsJun 05, 2025
Platinum Guild International Updates Leadership Team

Two existing executives have been given new roles.

Meredith Tiderington
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship Recipient

Meredith Tiderington, an electrical engineering student, was selected for the award.

Article Image 1.png
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

The Gemological Institute of America’s logo
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown Diamonds

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

Exterior of the Venetian and the Las Vegas Sphere
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 Sessions

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

JCK show
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Amy Curran
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.

Her new role is director of strategic initiatives.

The eight rings in Viviana Langhoff’s AU79 jewelry collection
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into Gold

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

Gold and diamond bangles on a pair of jeans
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%

On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.

Woman’s hand holding shopping bags
SurveysJun 03, 2025
Consumer Confidence Improves in May

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

Dakota Johnson as Roberto Coin Brand Ambassador
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand Ambassador

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

Mason Kay Jade necklace
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade Reports

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

Adobe Stock image of skyline of Bangkok, Thailand
GradingJun 02, 2025
GSI Opens New Lab in Thailand

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Seaman Schepps pearl earrings
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June

Those born in June have a myriad of options for their birthstone jewelry.

David Allouche
SourcingJun 02, 2025
David Allouche Joins Grandview Klein Diamonds

The diamond industry veteran has been named its senior sales executive.

Movado Connect 2.0 watches
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment

The company plans to raise the prices of select watches to offset the impact of tariffs.

Zoë Chicco Bracelets
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable Environment

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Renato Cipullo Hematite Blaze Necklace
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ Necklace

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

Stock image of shipping containers
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs Invalid

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

Britney Spears
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry Line

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Inoveo Platinum Grain image.jpg
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by Stuller

Sponsored by Stuller

Grizzly Mining Pilala emerald
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat Emerald

It was featured in the miner’s latest sale, which brought in $24.8 million.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy