Nivoda Raises $30 Million in Series B Funding
Nivoda, a London-based diamond and gemstone marketplace, recently announced that it has successfully raised $30 million in Series B funding. The funding round was led by Avenir Growth Capital, with participation from existing investors Headline and Abstract Ventures, as well as the addition of Canaan Ventures. With this new injection of capital, Nivoda aims to further enhance its plans for customer growth, market expansion, global outreach, and category expansion. The company is looking to double its team size over the next year to support its ambitious growth plans.
Under the leadership of CEO David Sutton, Nivoda provides jewellery businesses with a comprehensive solution to help them strengthen profits, improve efficiency, and accelerate growth through its B2B jewelry marketplace.
This platform is already being utilized by thousands of retailers across the globe, helping them streamline their operations and access high-quality gemstones and diamonds with ease. The company's recent achievements are a testament to its success, with a 140% year-over-year increase in revenue, a 162% growth in its active customer base, and a 124% increase in order counts in December 2023.
Nivoda's performance demonstrates its ability to meet the needs of its customers in a rapidly evolving market, positioning itself as a key player in the jewelry industry. With the support of its investors and the strong leadership of its management team, Nivoda is well-equipped to continue its growth trajectory and further solidify its position as a leading marketplace for diamonds and gemstones. As the company moves forward with its expansion plans, it remains committed to providing innovative solutions that drive success for its customers and partners in the industry.
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