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Nivoda bills itself as having the world’s largest collection of gemstones with an inventory of 1.6 million natural and laboratory-grown diamonds and a collection of 60,000 gemstones.

The B2B marketplace Nivoda caters to buyers and sellers of diamonds and gems. And it just hit the motherlode of new investment.

The 7-year-old B2B marketplace has offices in New York, London, and Antwerp (Belgium). Now, it has raised a $30 million Series B round in new working capital. That funding will come from Avenir Growth Capital, which was joined by existing investors Headline and Abstract Ventures, along with Canaan Ventures.

How Nivoda will use $30 million in new capital

The company said the marketplace will use the money for across-the-board organizational expansion.

“This new funding round will fuel our ambitious plans for customer growth, market expansion, global outreach, and category expansion,” Nivoda says. “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.”

Nivoda bills itself as having the world’s largest collection of gemstones. That includes an inventory of 1.6 million natural and laboratory-grown diamonds, as well as a collection of 60,000 gemstones.

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“We’re on a mission to create a one-stop shop for jewelers, and this funding represents a crucial milestone in achieving that vision,” said Nivoda CEO David Sutton.

What Nivoda offers

The Nivoda marketplace offers diamond and gemstone buyers a suite of tools that includes:

  • The capacity to purchase from multiple suppliers.
  • The ability to filter search results to stones eligible for returns with a single click, and a return within 35 days of delivery.
  • The capacity to track orders and invoices, and view expected delivery times and status updates.

Nivoda’s B round is one of the biggest investments for a B2B marketplace in 2024, according to investor Bowery Capital.

“The most recently announced deal on the B2B marketplace side that made waves in venture circles was the announcement of a $30 million investment into Nivoda — an online marketplace for gemstones that had previously raised an $11 million [round] in early 2023,” Bowery assessed. “Nivoda sells high average order value (AOV) items with a healthy take rate that also by their small nature avoid the transportation challenges faced by many high AOV goods such as construction equipment. They are one to watch.”

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