Nivoda, a leading digital marketplace and supply chain for the diamond industry, announced $51 million in funding. This funding will support the global growth of the world's first transparent, efficient, and customer-focused diamond and gemstone supply chain. And Nivoda's growth is a significant step toward transforming a traditional industry with innovative technology and agile supply chain solutions.
The funding was led by new investor Northzone, who joined existing investors Avenir, Headline, Abstract Ventures, and Canaan Partners. The new funding round will expand Nivoda's marketplace beyond diamonds and gemstones to all jewelry. This latest round brings Nivoda's total raised to $96 million.
As consumers have huge choices across online and local favorites, retailers must differentiate themselves in an increasingly competitive diamond market. And Nivoda offers access to the largest supply of diamonds and gemstones via a simple global supply chain. Nivoda helps jewelers sell more efficiently and effectively by purchasing from multiple international suppliers in a single transaction, doing multi-faceted inventory searches, making stone reservations, making simple returns, and tracking all orders, shipping, and invoices online. Plus, this provides a level of access and transparency that the industry has long needed.
KEY QUOTES:
"Nivoda has quickly emerged as a category-defining company that powers small retailers around the world. Nivoda is building a truly pioneering technology platform that creates value for all stakeholders across the ecosystem including consumers, suppliers, and retailers. 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."
- Sanjot Malhi, partner at Northzone