The startup offers a trading platform for investment-grade diamonds that enables users to buy and sell diamonds at prices approximately ten percent above wholesale, while significantly undercutting retail prices. By utilizing a tokenization system, the platform allows for frictionless trading of insured and vaulted diamonds, addressing the historical challenges of liquidity and valuation in diamond investments.
Funding
$930K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional diamond investments face challenges such as high retail markups, difficulty in selling, and lack of transparent valuation, making it difficult for investors to realize the true value of their assets. The non-fungible nature of diamonds also complicates tracking value over time, hindering their utility as a liquid investment.
Solution
Icecap provides a two-way marketplace designed specifically for hard-asset investors, enabling them to buy and sell investment-grade diamonds at prices closer to wholesale. The platform employs a patent-pending virtual-fungibility technology, the Diamond Value Index™, to track a diamond’s approximate value and facilitate easy re-listing. By focusing on diamonds with characteristics that make them easier to sell, such as double grading reports from GIA and GCAL, Icecap aims to provide investment-grade liquidity and reduce friction in diamond trading. Customers can choose to vault their diamonds or take delivery, allowing them to enjoy their asset before trading.
Target Audience
The primary target audience includes hard-asset investors seeking diversification and protection against inflation, as well as individuals looking for a portable and private store of wealth.
Features
- Marketplace for buying and selling investment-grade diamonds with a focus on liquidity
- Patent-pending virtual-fungibility technology (Diamond Value Index™) for tracking and re-listing diamonds
- Diamonds undergo secondary screening by GCAL, ensuring tighter grading standards and guaranteed grading with an insurance policy
- Program standards that screen for round, brilliant cut diamonds between 0.50 ct and 5 ct, D-I color, Flawless to VS2 clarity, and GIA Triple Excellent cut quality
- Option to vault diamonds with secure storage and insurance coverage
- Ability to take physical delivery of diamonds for personal enjoyment
- Online portfolio dashboard to track diamond details, purchase price, and appreciation/depreciation
- 360-degree video of each diamond for remote visual inspection