KDT Diamond Attracts Series A Investment, Targets Global Market with Lab-Grown Diamonds
South Korean company KDT Diamond has successfully secured Series A funding from investors, including Genaxis. Founded in January 2016, KDT Diamond achieved a significant milestone in 2021 by becoming the first in South Korea and the eighth globally to produce lab-grown diamonds, thanks to a collaborative effort with the University of Seoul‘s research team.
KDT Diamond employs the Chemical Vapor Deposition (CVD) method for diamond manufacturing, which is recognized for its higher efficiency over the traditional High Temperature High Pressure (HTHP) approach that relies on extreme temperatures and pressures.
The company has introduced its lab-grown diamond jewelry under the brand name ‘ALOD’ at various prestigious locations, such as the Hyundai Seoul pop-up store, Hyundai Department Store Trade Center branch, and Shinsegae Department Store.
Lab-grown diamonds, identical in physical properties to natural diamonds, are anticipated to drive innovation across numerous industries where the use of diamonds was previously limited due to their high cost.
Genaxis CEO Son Mi-kyung, who led this round of investment, commented, “KDT Diamond is not merely a frontrunner in the domestic lab-grown diamond market but is also in the process of establishing a polishing factory in India, the diamond capital of the world. With the completion of the facility in India, we foresee KDT Diamond’s significant expansion as a global supplier of both natural and lab-grown diamond materials.”
- AI Startup BFAI Secures Seed Funding to Expand WhaleAI Marketplace for SMBs
- Nullee Raises KRW 5B in Series B to Enhance SSEM Tax Filing Service and Expand
- ModuSign Secures 17.7 Billion KRW Series C Investment for E-contract Solutions
- LOGIBROTHERS Secures Strategic Investment from Grand Ventures to Expand AI Education Globally
- ISKRA Secures Strategic Investment from Animoca Brands to Boost Web3 Gaming
- ‘Recl’ Raised Series A Funding to Lead the Used Clothing Market
- Dalpha, a Korean B2B AI startup, Raises KRW 12 Billion in Pre-Series A Funding
- Korean MarTech Startup Team Remited Secures Seed Funding from UK’s Goodthings Company
- SOPOONG VENTURES Joins Funding for Israel-Based AI Foodtech Company BioRaptor
- Charan Raises KRW 10 Billion in Series A, Boosts Secondhand Fashion Market
