CT-CLEAN-ORIGIN
22.3.2022 15:58:04 CET | Business Wire | Press release
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
REPLY: The Board of Directors Approved the Draft Financial Statements for the Year 202512.3.2026 15:38:00 CET | Press release
All economic indicators are positive.Consolidated turnover of €2,483.6 million (€2,300.5 million in 2024);EBITDA at €467.6 million (€410.6 million in 2024);EBIT at €391.7 million (€330.4 million in 2024)Group net profit at €250.9 million (€211.1 million in 2024)Approval of the proposed dividend distribution of €1.35 per share. Today the Board of Directors of Reply S.p.A. [MTA, STAR: REY] approved the draft financial statement for the year 2025, which will be submitted for approval to the Shareholders’ Meeting to be held in first call in Turin on 23 April 2026. The Reply Group closed 2025 with a consolidated turnover of €2,483.6 million, an increase of 8.0% compared to €2,300.5 million in 2024. All indicators are positive for the period. Consolidated EBITDA was €467.6 million, an increase of 13.9% compared to €410.6 million at December 2024. EBIT, from January to December, was at €391.7 million, which is an increase of 18.5% compared to €330.4 million at December 2024. The Group net pro
LZE GmbH Introduces Fraunhofer’s RFicient® Technology to the Market12.3.2026 14:51:00 CET | Press release
LZE GmbH is expanding its technology transfer portfolio and making the RFicient® ultra-low-power wake-up receiver technology from the Fraunhofer Institute for Integrated Circuits IIS available for the first time as a standard chip for close-to-production industrial applications. The solution enables energy-efficient IoT designs that remain continuously reachable while consuming only microamps – a key step for long-lasting, low-maintenance IoT products. LZE GmbH drives technology transfer to market: standard chip availability for close-to-production applications As a bridge between research and industry, LZE GmbH is making it easier for companies to access innovative technologies and helping them to quickly and reliably transform new developments into market-ready solutions. With RFicient®-IC (FH101RF), LZE is providing another high-tech product that comes directly from Fraunhofer research and can now be ordered in volume and integrated into close-to-production product development for t
Owkin Creates New Spin out Waiv, Formerly Owkin Dx, With $33M Financing12.3.2026 14:30:00 CET | Press release
Investment lead by OTB Ventures and Alpha Intelligence CapitalWaiv develops AI-powered precision testing to better identify and stratify patients in the clinic and in clinical trials, transforming patient careWaiv extends Owkin’s strategy of real-world validation for its AI Owkin, the AI company on a mission to solve the complexity of biology, today announced the spin out of Waiv, formerly known as Owkin Dx. The move follows significant investor interest and positions Waiv to bring AI-powered precision testing for better identification of patients in the clinic and in clinical trials, to transform patient care. This follows on from the successful launch of Bioptimus, an Owkin incubated company, in February 2024. Waiv translates AI innovation into real-world clinical impact, developing tests that predict biomarkers and patient outcomes, including RlapsRisk BC for prognostic risk profiling. With multiple tests already in use in clinical settings, its deployment platform Destra, and colla
RQM+ Launches SMART Solutions Life Cycle Partnership Model12.3.2026 14:30:00 CET | Press release
Helps MedTech Companies Navigate MDR, IVDR, and AI-Enabled Device Development RQM+, a leading MedTech CRO offering regulatory consulting, clinical trial, laboratory, and reimbursement services, today announced the launch of SMART Solutions, a life cycle partnership model designed to help medical device and diagnostics companies manage growing regulatory and development complexity. SMART Solutions introduces a strategy-led operating framework that unifies regulatory, quality, clinical, reimbursement, and laboratory expertise to support MedTech companies across the entire product life cycle to help reduce risk from early development through post-market. “MedTech companies are navigating unprecedented complexity as regulatory expectations evolve, product innovation accelerates, and post-market expectations are expanding,” said John Potthoff, Ph.D., chief executive officer of RQM+. “SMART Solutions moves beyond traditional consulting by providing an integrated life cycle partnership that h
Cryptio Raises $45m Series B as Digital Assets Move Into Regulated Financial Markets12.3.2026 14:06:00 CET | Press release
The system of record for tokenized finance – ERP infrastructure for institutions operating in digital assets Cryptio, a leader in financial data transformation and enterprise resource planning (ERP) applications for regulated digital assets, announced today a $45 million Series B funding round co-led by BlackFin Capital Partners and Sentinel Global, with participation from 1kx, Alven, BlueYard Capital and Ledger Cathay Capital. Banks, exchanges, asset managers, including Société Générale’s SG Forge, Circle, Gemini, and Securitize rely on Cryptio to ensure financial integrity across their digital assets businesses. Existing ERP systems fall short for digital assets Traditional ERP and accounting systems were not designed for blockchain-native assets, real-time reporting, or modern custody frameworks. As regulated financial institutions expand into stablecoins, tokenized securities and other on-chain instruments, these limitations create material operational and reporting challenges. Cry
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