Nivoda secures £41m in Series C funding led by Northzone to expand its marketplace into general jewellery.
Northzone led the Series C financing round, which will fund the platform's expansion into new product categories.
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 £41m in Series C funding in a round led by Northzone, alongside existing backers Avenir, Headline, Abstract Ventures, and Canaan Partners. The capital will be used to expand the company's online marketplace beyond diamonds and gemstones into the wider jewellery sector.
Founded in 2017, the company offers a technology platform that streamlines procurement for jewellers by connecting them to international suppliers. This latest injection of capital brings the firm's total funds raised to $96m.
From the founder
"The diamond trade is a $100+ billion industry that still operates in a very local and fragmented way. Providing access to a global supply chain is transforming a centuries-old business. The success of this transformation, although we’re still at the early stages, has allowed us to raise investment this year in a challenging funding market. This investment is a testament to the hard work of our team and the trust that our partners and customers place in us."
Dave Sutton
CEO and co-founder at Nivoda
Investor perspective
"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, Northzone
Use of funds
- 01Continue product development
