Lake Diamond announces purchase order and launches trading platform

LakeDiamond is active in the ultra-pure lab-grown diamonds market, which is expected to reach CHF 18.4bn by 2022. Thanks to its technology, LakeDiamond pioneers the blockchain-based production and transformation of ultra-pure lab-grown diamonds for high-tech industrial applications ranging from micromechanics and robotics to electronics, photonics and biotechnology. In the watchmaking industry, the startup entered a collaboration with a major Swiss watchmaker to incorporate diamond-based micro-mechanical parts in watch mechanisms.

In March this year, LakeDiamond reached CHF 4.8 million Token Sale during the Private and the Bank sale thanks to the collaboration with Swissquote that offered its clients the opportunity to purchase tokens through the bank’s platform with Swiss francs using their trading account. According to Alex Kummerman, CIO of LakeDiamond, the startup whose core focus is diamond production, was privileged to enter a collaboration with Swissquote which provided them with the opportunity to use blockchain as a means to raise funds through an ICO. LakeDiamond became the first company whose ICO was powered by a Bank. The collaboration enabled the startup to raise the said CHF 4.8 million that will henceforth bring the company to the next level of development.

Following the successful completion of the bank sale, LakeDiamond has now launched its platform through Swissquote. LKD token holders can now trade and exchange their tokens. The startup will so use the platform to buy back tokens from holders. This activity is facilitated by the increasing number of orders from watch manufacturers.

Capacity increase from 2’000 to 8’000 diamond plates

Alongside the ICO, LakeDiamond is also raising additional funds through traditional venture capitalist, family offices and business angels. The funds will enable the company to fund its growth and expansion goals.

(RAN)