Nivoda raises £24m in Series B funding led by Avenir Growth Capital to scale its marketplace
Avenir Growth Capital led the Series B round, which will fund international expansion and platform growth.
Nivoda operates a digital marketplace and global supply chain platform for the diamond and gemstone industries. The company provides infrastructure that allows jewellers to source stones from multiple international suppliers in a single transaction.
Nivoda has secured £24m in a Series B funding round led by Avenir Growth Capital. The investment also drew participation from existing backers Headline and Abstract Ventures alongside new investor Canaan Ventures. The company intends to deploy the capital to scale its customer acquisition, expand into new international markets, broaden its product categories, and enhance fulfillment capabilities.
Founded to serve the global jewellery supply chain, Nivoda provides a unified platform for sourcing diamonds and precious stones. The fresh funds will support the firm as it scales its operations and doubles its headcount over the coming year.
From the founder
"We’re on a mission to create a one-stop shop for jewelers, and this funding represents a crucial milestone in achieving that vision."
David Sutton
Co-Founder and CEO at Nivoda
Investor perspective
"We were lucky to partner with the Nivoda team since the series A. Since then, Nivoda has proven not only that they are a best-in-class performing venture-backed company, but that they are a staple to both suppliers and diamond buyers around the world with countless opportunities for expansion."
Taylor Brandt
Principal, Headline
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
- 04Invest in sales and marketing
- 05Scale operations