StageSeries C | Alive
Last Raised$200M | 2 yrs ago
About Diamond Foundry
Diamond Foundry is a creator of diamonds that are grown within a lab. In order to create these lab-grown diamonds, the company uses the energy of a plasma akin to the sun. Through a marketplace, Diamond Foundry partners with more than 200 designers who buy the company's crystals and put them into their rings, necklaces, bracelets, and earrings.
Missing: Diamond Foundry's Product Demo & Case Studies
Promote your product offering to tech buyers.
Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions.
Missing: Diamond Foundry's Product & Differentiators
Don’t let your products get skipped. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).
Research containing Diamond Foundry
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Diamond Foundry in 3 CB Insights research briefs, most recently on May 3, 2023.
Expert Collections containing Diamond Foundry
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Diamond Foundry is included in 5 Expert Collections, including E-Commerce.
Unicorns- Billion Dollar Startups
Tech-enabled companies launching new luxury brands, as well as startups providing tech solutions to the luxury industry, including e-commerce tools, marketing, and more. While these companies may not exclusively target luxury companies, they have notable luxury partners.
Semiconductors, Chips, and Advanced Electronics
Companies in this collection develop everything from microprocessors to flash memory, integrated circuits specifically for quantum computing and artificial intelligence to OLED for displays, massive production fabs to circuit design firms, and everything in between.
This collection covers the technologies used to grow and process diamonds, as well as consumer and industrial applications for them
Diamond Foundry Patents
Diamond Foundry has filed 1 patent.
The 3 most popular patent topics include:
- Chemical processes
- Plasma physics
Thin film deposition, Semiconductor device fabrication, Coatings, Plasma physics, Chemical processes
Thin film deposition, Semiconductor device fabrication, Coatings, Plasma physics, Chemical processes
Latest Diamond Foundry News
Mar 28, 2023
When the service launches later this month, customers will be able to choose their rough diamond, and pick from 31 shapes, ranging from antique to modern cuts including Emerald, Pear, Radiant and heart-shaped Brilliant. Vrai’s teams then carry out “cut planning,” using software to analyze each block of rough and look for inclusions. They’ll later determine a plan to optimize the yield in order to make the diamonds as bright and shiny as possible, similar to what cutters and polishers would do with a mined diamond. In a video interview from Los Angeles, where Vrai is based, chief executive officer Mona Akhavi said the industry is changing quickly; demand for lab-grown diamonds is on the rise, and the cost of doing business is less than it was even a few years ago, factors which have allowed Vrai to launch its bespoke service to a wider audience. Over the past three years, she added, the Diamond Foundry has doubled production, and sales. It produces up to 3 million carats of diamonds a year. That figure is set to grow with the opening of a new 740 million euro foundry in Trujillo, Spain, in 2025. Of late, the San Francisco foundry has also been working more efficiently, producing larger, cleaner, rough blocks, which has enabled Vrai to offer the new bespoke service at a price of $1,400 per carat. Akhavi claimed that at that rate, a 5-carat diamond ring from Vrai will cost 20 percent less than a mined diamond from a traditional jeweler. Vrai also guarantees an “I” grade diamond, which is near colorless to the naked eye. Vrai also guarantees that if the final polished diamond is of a higher color grade than an “I,” there is no additional cost. Vrai’s diamonds are cut and polished at workshops internationally, with the company updating customers weekly, with video and imagery of the process. Akhavi said Vrai is launching the service due to customer demand. “Our customers have been asking us for many years ‘Can I have my own diamond cut?’ ‘How can I get what Gwen Stefani got, or the diamonds you did for Jony Ive and Marc Newson?’” she said, adding, “We’re now able to bring all the efficiencies we gained over the years to every customer at a reasonable cost.” Akhavi said cost efficiencies also come from cutting out the mined diamond industry’s middlemen, who handle the rocks as much as 15 times (adding costs along the way) before they reach the customer. The new bespoke diamond service is set to become a major part of Vrai’s business, according to Akhavi. She said customers increasingly want transparency, and to be involved in the process of creation. “They’re asking for larger sizes, and a variety of shapes and options. They also want customization. Customers today are used to getting exactly what they want,” she said. Plasma reactors at the Diamond Foundry, which supply lab-grown diamonds to Vrai. Then there is the price advantage. “You can now buy a tennis bracelet from us — nine carats in total — for a quarter of the price of a mined diamond version — and you don’t have to feel bad about,” harming the environment, Akhavi contended. Asked about other trends she’s seeing in the lab-grown diamond market, Akhavi said people are increasingly aware of lab-grown diamonds and their impact on the environment. Producing lab-grown diamonds can require a significant amount of energy. The Diamond Foundry works with proprietary plasma reactors which are powered by renewable hydropower to ensure the process is carbon neutral. Vrai claimed that for every diamond carat produced in the foundry, it saves 143 pounds of CO2 and 2,011 ounces of air pollution compared to a mined diamond. The company claims that since 2018, it has saved more than 1.5 million pounds of CO2, equivalent to 440 flights from New York to London . She said the spend is growing, too, with Vrai customers opting for higher diamond weights, especially in the U.S. and Europe. “People are feeling very comfortable about upgrading their carat size because of the price advantage,” she said. The average carat size at Vrai is two, but Akhavi said this past Valentine’s Day in the U.S., the brand were seeing increasing demand for 4-carat rocks. Overall demand for lab-grown diamonds is on the upswing. According to Paul Ziminsky Diamond Analytics, the lab-grown diamond market accounts for more than 11 percent of the diamond jewelry market overall. According to other studies, the bulk of that demand is coming from Gen Z and Millennial customers, who are unimpressed with the mined diamonds their parents and grandparents wore, and continue to wear. Whereas older generations were wooed by powerful marketing campaigns, younger customers are asking questions about supply chain and prefer to put their money behind a rock with low impact on the environment. Vrai, which counts Leonardo DiCaprio , star of the 2006 film “Blood Diamond,” as one of its investors, is riding the lab-grown momentum, and it’s not stopping at bespoke. After a string of high-profile collaborations, the company plans to launch a signature Vrai jewelry line in June. Akhavi said that after so many years of scaling the business, improving the technology and collaborating with creatives, “2023 is the year to truly differentiate” in terms of product and service, she said. Tags
Diamond Foundry Frequently Asked Questions (FAQ)
When was Diamond Foundry founded?
Diamond Foundry was founded in 2012.
Where is Diamond Foundry's headquarters?
Diamond Foundry's headquarters is located at 322 East Grand Ave, San Francisco.
What is Diamond Foundry's latest funding round?
Diamond Foundry's latest funding round is Series C.
How much did Diamond Foundry raise?
Diamond Foundry raised a total of $300M.
Who are the investors of Diamond Foundry?
Investors of Diamond Foundry include Fidelity Investments, Future Tech Lab, David Spector, Caspian VC Partners, Alison Pincus and 13 more.
Who are Diamond Foundry's competitors?
Competitors of Diamond Foundry include Aithra and 4 more.
Compare Diamond Foundry to Competitors
LUSIX is a technology-driven, prime grower of lab grown diamonds (LGDs). Marketing its diamonds under the Sun Grown Diamonds mark. The Company grows custom shaped rough diamonds, including LUSIX Pyramid DiamondsTM, as well as custom-colored rough diamonds. The Company is vertically integrated, from the design and manufacture of its own custom-made reactors to large scale production of premium quality diamonds, chosen by leading Luxury brands worldwide. LUSIX was founded in 2016 and is based in Ness Ziona, Israel.
Aithra manufactures and designs luxury jewelry. The company offers a synthetic diamond manufacturing process. Aithra's diamonds offer an alternative to the use of metals for the creation of jewelry and luxury watches. It was founded in 2020 and is based in Toulouse, France.
Appsilon is cultivating lab-grown diamonds. Its grown diamonds are chemically and physically identical to earth-mined diamonds. It re-creates the earth's process to grow a diamond with a plasma chamber acting as the sun and carbon atoms that form one by one to shape the diamond. The company was founded in 2017 and is based in Istanbul, Turkey.
The Clear Cut offers a concierge service for consumers to design their own diamond engagement rings. The idea is to offer a personalized experience and product at significant savings compared to the big-name jewelry stores. The Clear Cut was founded in 2018 and is based in New York, New York.
Diamondere.com is a made-to-order fine jewelry e-commerce platform built on a 122 year old family legacy. In the past, the family used to make jewelry made-to-order for the Royals, celebrities, and dignitaries. Through the platform, a customer can personalize and buy jewelry seamlessly online. It is vertically integrated with in-house designing and manufacturing. Diamondere eliminates middlemen and ship directly to the consumer, resulting in 30-75% lower prices than traditional retail.
Oscar Massin is a heritage luxury brand that offers fine jewelry collections that use only climate-neutral lab grown diamonds and 100% recycled gold.
Discover the right solution for your team
The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.