India, June 3 -- Mumbai-based lab grown diamond startup True Diamond has raised $3 Mn (INR 26 Cr) in a fresh funding round, people aware of the matter told Inc42.

The round saw India Quotient joining the cap table, with participation from Titan Capital and Huddle Ventures.

Confirming the development, True Diamond's cofounder Parin Shah said that India Quotient has led the round.

Post the fund raise, the startup valuation soared to INR 108 Cr ($12.6 Mn), Shah added.

The startup will use the fresh capital to scale up its omnichannel presence, with a strong focus on expanding offline retail.

"The company has already launched three offline stores in Mumbai, Hyderabad and Noida. The investment will go towards building a strong modern bran...