Nivoda, a London and New York-based e-commerce platform for the diamond and gemstone industries, has raised £40m in a Series B round led by Northzone, with participation from Avenir, Headline, Abstract Ventures, and Canaan Partners. This brings its total funding to $96m.
Founded by Dave Sutton in 2017, Nivoda operates a global marketplace offering the largest collection of natural and lab-grown diamonds and gemstones. The platform simplifies the supply chain for jewelers, providing access to a transparent global inventory, streamlined transactions, and online order tracking.
The funding will support the expansion of Nivoda's marketplace beyond diamonds and gemstones into all jewelry categories, driving growth in a $100bn industry. Investors highlighted Nivoda's transformative potential to modernize a fragmented market with pioneering technology. CEO Dave Sutton emphasized the company's progress despite challenging market conditions, crediting the team's efforts and strong customer trust.
