We are excited to announce that Nivoda has secured $30 million USD primary investment in its Series B funding round.

The investment, led by Avenir Growth Capital and joined by existing investors Headline and Abstract Ventures, along with the addition of Canaan Ventures, signifies a significant milestone for our vision of transforming the jewelry industry.

Taylor Brandt, Principal at Headline, expressed her enthusiasm about our journey, stating, “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.”

Andrew Sugrue, Partner at Avenir Growth Capital, emphasized our unique position in the market, stating, “We are thrilled to back Nivoda as they build the largest global marketplace for the jewelry industry. Nivoda serves a huge unmet need in the market, evidenced in their best-in-class retention characteristics.”

David Sutton, Co-Founder and CEO at Nivoda, highlighted the significance of the funding, stating, “We’re on a mission to create a one-stop shop for jewelers, and this funding represents a crucial milestone in achieving that vision.”

This new funding round will fuel our ambitious plans for customer growth, market expansion, global outreach, and category expansion. We also aim to enhance the customer experience through product enhancements and fulfillment optimizations. And in preparation for the exciting journey ahead, we plan to double our team size over the next year to support our goals. 

While emphasizing our unique ability to transform the jewelry market, Surgrue continued, “The Nivoda team is uniquely equipped to revolutionize how jewelry reaches the retail market. Through their extensive on-the-ground experience as operators, they understand the intricacies within the global diamond and jewelry value chain.”

As we embark on this exciting journey, we would like to thank our loyal customers and dedicated suppliers. Without your support, none of this would be possible, and we hope you are just as excited as we are for the future of Nivoda!