SourcingMay 20, 2024
2 Business-to-Business Platforms Secure Millions in Funding TechnologyNov 27, 2024
Nivoda Secures Additional Funding
The London-based business-to-business diamond and gemstone marketplace just closed on a $51 million round of Series C funding.
From left, Nivoda Chief Operating Officer Jessie Young, co-founder and Chief Information Officer Andre Woons, and co-founder and CEO David Sutton in the New York City Diamond District. The London-based diamond and colored gemstone marketplace just raised millions more in funding. (Photo courtesy of Nivoda)
London—Business-to-business diamond and colored gemstone marketplace Nivoda has closed on another round of funding.
The London-based company announced Monday that it has secured $51 million in a Series C round of funding led by Northzone, a venture capital fund with a portfolio that includes Kahoot!, Spotify, and Klarna.
Northzone’s investment follows the $30 million Nivoda secured earlier this year in a Series B round of funding led by Avenir Growth Capital.
Nivoda said it will use this latest round of funding to expand its global diamond supply chain network and invest in “cutting-edge” tools for jewelers worldwide.
Related stories will be right here …
The London-based company announced Monday that it has secured $51 million in a Series C round of funding led by Northzone, a venture capital fund with a portfolio that includes Kahoot!, Spotify, and Klarna.
Northzone’s investment follows the $30 million Nivoda secured earlier this year in a Series B round of funding led by Avenir Growth Capital.
Nivoda said it will use this latest round of funding to expand its global diamond supply chain network and invest in “cutting-edge” tools for jewelers worldwide.
“The diamond trade is a $100-plus billion industry that still operates in a very local and fragmented way,” Nivoda CEO and co-founder Dave Sutton said. “Providing access to a global supply chain is transforming a centuries-old business.
“The success of this transformation, although we’re still at the early stages, has allowed us to raise investment this year in a challenging funding market.”
Northzone partner Sanjot Malhi called Nivoda a “category-defining company” for small retailers worldwide, adding, “We had the privilege of getting to know Dave and the team for over a year prior to investment and are very excited to partner with them on this journey.”
Sutton and Andre Woons founded Nivoda in 2017 to address what they viewed as inefficiencies in the diamond supply chain, giving jewelers access to millions of diamonds.
In 2023, the platform expanded to include more than 30 types of colored gemstones, among them sapphires, rubies, emeralds, alexandrite, and tourmaline.
More on Technology
The Latest
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
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.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
MajorsApr 16, 2025
WJA Announces Board Members, New Chicago Chapter PresidentThe announcements follow a tumultuous start to 2025 for WJA, which saw a wave of resignations following controversial statements about DEI.
EditorsApr 15, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsKenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.
AuctionsApr 15, 2025
23-Carat ‘Golconda Blue’ Heads to AuctionThe historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.
FinancialsApr 15, 2025
LVMH’s Q1 Sales Slip 2 PercentLVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.
CrimeApr 15, 2025
Jon Hamm Plays a Jewel Thief on Apple TV+The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”
SourcingApr 15, 2025
Diamond Club West Coast Names 2025 BoardThe organization has reelected Kalpesh Jhaveri as president.
FinancialsApr 14, 2025
Movado to Restate Years of Financials Due to ‘Misconduct’ in Dubai An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.
CollectionsApr 14, 2025
Sauer Embraces Emptiness Through ‘Ma’ CollectionThe collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.
IndependentsApr 14, 2025
Illinois Jeweler Closing After 45 YearsMari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.
GradingApr 14, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
SourcingApr 11, 2025
Mikimoto Names New President, CEO for U.S. DivisionKentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.
