(PRESS RELEASE) NEW YORK, NY — Liquid Diamonds, a business-to-business diamond sourcing platform, is revolutionizing wholesale diamond buying by introducing price transparency and liquidity to the market. In its next step toward democratizing the diamond market, data-driven company has evolved its offerings to include assisting jewelry retailers with its diamond buying practices, as well as mounted programs.
The recent round of funding was led by certain members of the New York Angels, a group of New York-based financiers who believe the diamond industry has been left behind compared to other industries, such as automotive, finance, and pharmaceuticals. The goal of investing is to propel it into the modern age, attracting substantial financial capital into the trade.
Donna Redel, a member of New York Angels, as well as an early investor and mentor to Liquid Diamonds, now serves as a new member of the company’s board of directors. She shared that she “is optimistic about the future of the diamond industry, as modern technology is slowly being accepted by a dated industry that is not currently data rich.” She continued that the “application of technology and access to data can benefit every part of the value chain. Liquid Diamonds is on the forefront of this revolution and will continue to establish themselves as a great asset to the jewelry industry at large.”
Working with Liquid Diamonds, retailers will now have the opportunity to access the best diamond prices, sourcing stones from the hundreds of small diamond manufacturers in India and Botswana, a previously unattainable opportunity. With the company’s patented reverse auction system, Liquid Diamonds provides retailers access to a massive network of global suppliers, who compete with each other, yielding tremendous buying benefits. Liquid Diamonds has already facilitated over $50M in diamond buying, showcasing the power of the platform.
“Our vision is to democratize the diamond market, where buyers always get a fair market value regardless of whether they are buying 5 or 500 diamonds,” shared Kashyap Mehta, CEO of Liquid Diamonds. “This enhanced focus on retailers is an exciting evolution not only for Liquid Diamonds, but for the industry as a whole. Our team worked to streamline the platform for greater usability, and we are happy to report we are already seeing an increase in both time spent on the platform as well as a strong ROI in terms of new retailer clients taking advantage of our diamond buying services.”
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With the evolution of its offerings, Liquid Diamonds will still continue to provide its signature White Glove Service, which includes its unsurpassed quality control, consolidated shipments, single window payments and returns.
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