Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsSourcingMay 20, 2024
2 Business-to-Business Platforms Secure Millions in Funding
Nivoda and Liquid Diamonds both have big plans for the new capital.
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 …
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.
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.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRFThe National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
TrendsApr 03, 2025
Tallulah Willis Imbues Antique Engagement Ring With MagicThe 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.
CollectionsApr 03, 2025
Buccellati to Open Immersive Exhibition in MilanThe multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Policies & IssuesApr 03, 2025
Jewelers of America to Hold Webinar on TariffsThe virtual event will take place April 7 at 3 p.m.
Weekly QuizApr 03, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a ZooThe pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For NowParent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
Events & AwardsApr 02, 2025
Punchmark to Host Client WorkshopThe educational event will take place in Charlotte, North Carolina, this May.
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH WatchesThe longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
