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.
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.
The Latest
A total of 126 million consumers shopped in stores over the five-day period, about 5 million more than last year.
The FTC’s Jewelry Guides require “clear and conspicuous” disclosure when advertising lab-grown diamonds.
The fine jewelry designer, who came out of retirement in 2017, is putting down his sketchpad for good.
While no reputable jeweler would knowingly sell lab-grown stones as natural, it's a growing possibility.
The Type IIa, very light pink colored diamond was the highlight of the recent Hong Kong jewelry auction.
John Willard Craiger, 83, fatally shot jeweler Ghazi “Gus” Michel Osta following an argument in the store.
In his latest column, Smith provides a list of questions every business needs to be asking their next potential leader.
From protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
An innovative artist inspired by the natural world, Lehrer is remembered for being a visionary and a shining light.
Jérôme Lambert returns as CEO of Jaeger-LeCoultre, while Laurent Perves takes the lead role at Vacheron Constantin.
The extravagant gifts in this year’s “A Neiman’s Fantasy” Holiday Book range from a Messika diamond necklace to pavé diamond cowboy boots.
Owners Greg and Lynn Bires are heading into retirement.
The industry veteran is remembered for his faith, his dedication to his family, his wealth of knowledge and his generosity in sharing it.
PricewaterhouseCoopers’ 2024 holiday trends survey took a 10-year look back to see what mattered to consumers then versus now.
Monique Lhuillier and Kay Jewelers collaborated to create the pieces, which were offered at the recent Baby2Baby gala.
Botswana joins Antwerp as a certification center for rough under the G7 ban on Russian diamonds.
The miner said its November sale, which earned $16.1 million, felt the effect of competitive pricing by a rival Zambian producer.
Mignon Faget honors its hometown of New Orleans with a piece inspired by “The Crescent City.”
“Forever Present” highlights gifting opportunities for natural diamonds, celebrating familial, friendship, and romantic relationships.
It’s one of the most impressive assemblages of the French designer’s pieces ever to come to auction, Christie’s said.
Successful email marketing campaigns are all about timing, personalization, and compelling CTAs, Emmanuel Raheb writes.
Retail leader Lisa Bridge and geology professor Dr. Wendy Bohrson joined the organization’s board.
Look out for a black bear wearing a purple Santa hat and its zippered tummy pouch made for holding a holiday gift from Ben Bridge Jeweler.
“The William Goldberg Way” was released in honor of the company’s 75th anniversary and 25 years of its proprietary Ashoka diamond.
Fenix and Dholakia Lab-Grown Diamonds have jointly acquired the Israel-based company, which grows diamonds using solar power.
The Danish brand has opened an appointment-only location on Madison Avenue in New York City.
The actor and watch enthusiast will be part of the show’s education lineup.