Blockchain startup Diamond Standard, the producer of the world’s only regulator-approved diamond commodities, has netted $30 million in funding. The investment round was co-led by Left Lane Capital that closed $1.4B in an oversubscribed round and Horizon Kinetics alongside additional participants in the round include Gaingels and Republic.co.
Distribution of tokenised diamonds
Diamond Standard will use the investment to expand the production capacity and accelerate distribution of tokenised diamonds.
The raise comes on the heels of the successful launch of the Diamond Standard Fund. This fund enables investors to allocate to a new asset class – diamonds through convenient shares instead of owning physical diamonds.
“Following 20% returns last year, the Diamond Standard Coin has continued to generate a positive return this year, while the S&P 500 is down 14% and bitcoin is down 50%. Investors need a new uncorrelated asset class, and this capital will enable us to increase...
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