WeCare Secures $350K to Tackle Financial Barriers in Lab-Grown Diamond Market
WeCare, an innovative organisation, is tackling financial barriers in the lab-grown diamond market with a unique financing approach. Led by Saad Kassis Mohamed, WeCare has secured $350,000 in funding to drive industry innovation.
The demand for lab-grown diamonds is projected to reach 160 million carats by 2030, presenting a significant opportunity for growth. WeCare's goal is to support small to medium enterprises in this thriving sector. The organisation evaluates diamonds using proprietary assessment techniques, including run-of-mine diamonds, and aims to enhance research and development through strategic partnerships. WeCare is also committed to ethical practices, working to eliminate child labor and ensure ethical procurement in the diamond industry.
The funding for WeCare's initiative was contributed by Red Capital and individual supporters. Mohamed, leading the project, is dedicated to making lab-grown diamonds more accessible and affordable.
With $350,000 in funding, WeCare is poised to make a significant impact in the lab-grown diamond market. By supporting small to medium enterprises and promoting ethical practices, WeCare is not only driving innovation but also ensuring a sustainable future for the industry.
