True Diamond, a startup specializing in synthetic diamonds, announced Tuesday that it has secured $1 million in a seed funding round led by Titan Capital.

The funding round also saw participation from Huddle Ventures, Zeropearl Ventures and several notable angel investors, including the founders of RENÃ E Cosmetics, Mamaearth, Tracxn and Astrotalk.

The funding will be used to expand the team, open stores in Mumbai and Delhi NCR and strengthen marketing efforts, the company said in a statement.

Since its creation in January, True Diamond has already developed a catalog of 5,000 customizable models and achieved a repurchase rate of 1.7 times by its customers, he adds.

Parin Shah, co-founder of True Diamond, said the investment would help the company grow its brand and become a significant player in the jewelry industry.

“This funding will allow us to expand our team, establish stores and execute strategic marketing initiatives,” Shah said.

Titan Capital highlighted the growing demand for lab-grown diamonds in India, highlighting the market potential for affordable and ethically sourced luxury jewelry.

The company aims to target sustainability-conscious consumers by offering high-quality, customizable diamond jewelry through its expanding retail network.