Nivoda Raises $30M in Series B Funding


Nivoda, a London, UK-based diamond and gemstone marketplace, raised $30M in Series B funding.

The round was led by Avenir Growth Capital and joined by existing investors Headline and Abstract Ventures, along with the addition of Canaan Ventures.

The company intends to use the funds to further enhance its plans for customer growth, market expansion, global outreach, and category expansion. Nivoda plans to double its team size over the next year.

Led by CEO David Sutton, Nivoda provides jewellery businesses with a solution to strengthen profits, increase efficiency and accelerate growth with its B2B jewelry marketplace. Nivoda is used by thousands of retailers all over the globe.

In December, the company recorded a 140% year-over-year increase in revenue with its active customer base surging by 162%, and order count growing by 124% YoY in December ‘23.