CT-CLEAN-ORIGIN
Great Heights Inc. , and its subsidiary Clean Origin LLC, leading online DTC retailers of lab-grown diamonds, engagement rings and jewelry, today announce a $20 million equity investment from TCL North America, Inc. (TCL Inc), a wholly-owned subsidiary of Titan Company Limited (NSE:TITAN ) - an Indian luxury products company known for manufacturing jewelry and watches - to further expand the business. Clean Origin plans to use the funds to scale its operations, strengthen its supply chain, invest in omnichannel retail experiences, leverage cross border Indian-American synergies, and build a fortress balance sheet to further dominate the lab-grown diamond engagement ring industry.
This transaction values Great Heights Inc. at approximately $132.8 million USD on a pre-money valuation basis and $152.8 million USD on a post-money valuation basis and creates no change of control nor direction for the company who maintains majority control.
As part of the deal:
- Ajoy Chawla, CEO Jewellery Division of Titan Company Limited will join Great Heights Inc. board of directors
- Titan will own approximately 13.09% of the economic interest and 17.54% of the voting control in Great Heights Inc.
“We are delighted to choose Titan as a partner and look forward to welcoming Mr. Chawla to our board of directors,” said Alexander Weindling, Co-Founder and CEO of Clean Origin and Great Heights Inc. “Titan brings more than simply cash to fuel our growth, but deep expertise in the international manufacturing, control, and logistics of bespoke diamond jewelry across a global platform.”
Clean Origin is on a mission to hold the diamond industry to a higher standard, with a new, environmentally conscious, and conflict-free process that gives everyone peace of mind when purchasing diamonds. Each diamond is lab-grown using a craft that mirrors the natural growing process creating molecularly identical stones without the destructive force of mining or its murky ethics. All diamonds are 100 percent real, 100 percent ethical and independently certified to meet the highest standard of quality.
About Clean Origin
Clean Origin, a wholly owned subsidiary brand of Great Heights Inc., is the largest retailer of purely lab-grown diamond jewelry in the U.S. Founded in 2017 by Alexander Weindling, Ryan Bonifacino and a team of industry veterans with over 100 years of combined experience, the team set out to disrupt the way diamonds were developed, sourced and sold. Seed investors included Terry Burman, Chairman of Abercrombie & Fitch, former Chairman of Zale’s and CEO of Signet brands Kay Jewelers and Jared. Clean Origin knows the diamond jewelry industry to its core and is on a mission to improve the diamond shopping experience. The company puts quality and ethics first, so consumers can feel good about diamonds now and forever. For more information, please visit, www.cleanorigin.com
About Titan Company Limited
Titan, a joint venture of the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced operations in 1984. Since then, Titan has expanded from watches to creating India’s largest jewelry lifestyle brand, Tanishq and India’s largest digital omnichannel jeweler, Caratlane.com. Titan is widely known for transforming the jewelry industry in India and for shaping India's retail market by pioneering experiential retail. Titan’s global jewelry operations generated 2021 sales of US $2.7 billion through its 2,000 stores in India and abroad.
Founded in 1868 by Jamsetji Tata, Tata is one of the world’s premier global enterprises. In its most recent fiscal year, Tata generated US $103 Billion in revenue with a market capitalization exceeding US $300 billion - including 28 publicly listed companies as of September 30, 2021 - across ten industry verticals including consumer, technology, and retail.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220322005240/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Cross-Border Private Credit Set to Surge, But Operational Complexity Threatens Momentum, CSC Finds4.12.2025 14:30:00 CET | Press release
79% of GPs expect cross-border private credit deals to grow over the next three years, with more than half forecasting rapid acceleration40% of LPs rejected private credit investment opportunities last year due to reporting or operational concerns92% of LPs say specialist outsourcing enhances transparency Cross-border private credit transactions are poised for strong growth, yet operational complexity is emerging as a critical hurdle. According to CSC, the leading provider of business administration and compliance solutions, an overwhelming 92% of limited partners (LPs) express concern over the complexity of these deals. Published in CSC’s latest report, Private Credit 2025: Global Strategies for a $1.5 Trillion Market, the findings highlight a growing disconnect between investors and fund managers as private credit continues its rapid international expansion. 1 While both LPs and general partners (GPs) remain optimistic about the growth of cross-border private credit, they diverge sha
Pace selected by Prudential Financial to help automate its insurance operations with agentic AI4.12.2025 14:15:00 CET | Press release
Pace’s AI-powered agents are helping to streamline policy service and perform other quality assurance tasks within Prudential’s Individual Life Insurance business Pace, the agentic workforce for insurance, was chosen by Prudential’s Individual Life Insurance (ILI) business to help simplify and improve its service delivery. Pace’s AI-powered agents are now streamlining policy servicing and supporting quality assurance efforts within Prudential’s ILI business. The first set of automated systems is now live taking on thousands of hours of work. “Our work with Prudential is an example of how AI can be used as a strategic advantage,” said Pace CEO Jamie Cuffe. “We’re thrilled to support their exceptional team with AI agents in production today that deliver best-in-class accuracy and speed at significant scale.” This multi-year agreement between Pace and Prudential’s ILI business began as a pilot and quickly moved to full production after demonstrating clear improvements in speed and operati
Redefining Acromegaly Care: First Patient Randomized in Debiopharm’s Phase III OXTEND-03™ Trial of 3-Month Debio 4126 Treatment4.12.2025 14:00:00 CET | Press release
OXTEND-03™ (NCT06930625) is a Phase III, multi-center, randomized trial assessing the efficacy and safety of Debio 4126, the first and only octreotide formulation designed for quarterly (3-month) dosing Debiopharm (www.debiopharm.com), a privately-owned, Swiss-based biopharmaceutical company committed to establishing tomorrow’s standards of care in oncology and rare diseases, today announced that the first patient has been randomized in the OXTEND-03™ clinical trial. This pivotal Phase III trial is designed to evaluate the efficacy and safety of Debio 4126, a novel long-acting octreotide formulation and the first potential 3-month somatostatin analogue (SSA), in adults with acromegaly who are currently maintained on somatostatin analogs. OXTEND-03™ is a global trial spanning approximately 75 sites across 21 countries, aiming to enroll around 120 patients. The primary goal of the trial is to confirm Debio 4126’s ability to maintain biochemical control of the disease while significantly
Visa Launches Global Art Collection to Elevate Creators and Celebrate the FIFA World Cup 26™4.12.2025 14:00:00 CET | Press release
Visa spotlights global illustrators and creative small businesses, teaming up with Pharrell Williams’ JOOPITER to accelerate creator growth. Visa today unveiled the first five pieces in its first-ever global art collection celebrating the cultural energy of the FIFA World Cup 26™. Featuring more than twenty artists from six continents, the collection reflects Visa’s belief that creativity drives commerce—and that today’s creators are the entrepreneurs shaping communities and culture around the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251204080105/en/ Darien Birks (Global) Visa debuted the first five pieces in the collection at an exclusive Miami showcase, “The Art of the Draw”, hosted by multidisciplinary creator KidSuper. The showcase featured the works of artists Darien Birks, Nathan Walker, Cesar Canseco, Ivan Roque, and Rafael Mayani that celebrate the culture and traditions of each host country and host cit
Parse Biosciences Launches Evercode Whole Blood Fixation4.12.2025 14:00:00 CET | Press release
New fixation method streamlines blood sample handling for translational research Parse Biosciences, a leading provider of accessible and scalable single cell sequencing solutions, today announced the launch of Evercode™ Whole Blood Fixation, a new kit that enables immediate fixation of whole blood directly at the point of collection. The technology eliminates the need for on-site PBMC isolation, specialized equipment, or trained personnel, allowing translational hematology and pharmaceutical research teams to seamlessly collect blood samples in real-world clinical settings for downstream single cell analysis. Traditional single cell RNA profiling workflows done in a translational setting require a compromise between processing fresh samples, which degrade rapidly and demand skilled handling, and using fixation approaches that capture only a partial transcriptome and cannot provide paired TCR sequences. Fresh PBMC isolation also requires complex workflows and specialized reagents. Everc
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom