Nivoda has secured $51m (£39.7m) in funding as part of efforts to expand its global diamond supply chain.
The investment has been sourced from Northzone, who join existing investors Avenir, Headline, Abstract Ventures and Canaan Partners.
This new round of investment will be used to expand Nivoda’s marketplace beyond diamonds and gemstones to all jewellery.
It also brings the company’s total funds raised to $96m (£76m).
Dave Sutton, Nivoda CEO and co-founder, said: “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.”
Sanjot Malhi, partner at Northzone, added: “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.”
Nivoda was originally founded in 2017, and now has offices around the world. It is dual-headquartered in New York and London.
