The amount invested was not made public. Ada Diamonds, which specialises in handmade engagement rings and wedding jewellery, also has three physical showrooms in San Francisco, New York City, and Austin, Texas. "At our core, we are a tech-enabled jeweler," Ada cofounder and CEO Jason Payne tells JCK. The funds will be used to expand our technical infrastructure, allowing us to deliver bespoke jewellery at scale, launch innovative new product lines, and open new showrooms." "One of our strategic goals is to produce educational content to explain the growing difference between high-quality lab diamonds and goods grown as quickly and cheaply as possible," he continues.
"While the number of growers and lab diamonds has increased in recent years, we continue to face supply scarcity in quality material," said cofounder and director of sales Lindsay Reinsmith in a statement. Reinsmith claims to have personally examined 15,000 certified lab diamonds. Valor Equity Partners has made investments in a variety of companies, including Tesla, SpaceX, SolarCity, Reddit, Gopuff, Misfits Market, and Addepar. Valor Siren Ventures works with startups in retail, retail technology, food, food technology, and sustainability.
"We chose Valor for their deep experience scaling operations of category defining startups," Payne wrote on LinkedIn. "We look forward to substantially growing and improving the Ada Diamonds experience in the years ahead." "We believe lab diamonds will play a significant role in the future of fine jewelry," said Jon Shulkin, co-founder of Valor Equity Partners and fund manager for Valor Siren Ventures.