Diamonds RM 1 Million Times More Valuable

Date : 10-Sep-2020
Location: Kuala Lumpur


  • NEXEA Angels Sdn Bhd (NEXEA),a Malaysian Venture Capital and Startup Accelerator firm.
  • ZCOVA,a fast-growing jewellery and diamond company. 

Key Takeaways:

  • NEXEA has just closed a funding round of RM 1 Million for ZCOVA.
  • The financing will be used to fund the expansion of the business as well as on all efforts to modernise the way diamonds and gemstones are purchased via online-retail.


Founded in 2015, ZCOVA is reshaping the jewellery shopping experience as the only company in Malaysia and Singapore that offers dual-certified (GIA & GemEx) diamonds at a near-wholesale price to the burgeoning gem-market through its online store.

  • Transparent transaction chain through the removal of middlemen.
  • In-house jewellery consultants work on a zero-commission policy.
  • The online store offers customization options.


  • Ben Lim,Managing Partner, Nexea Angels,commented on the evaluation criteria which are strong team and on the right track to disrupt traditional market.
  • Ziwei, Co-Founder, ZCOVA,said their competitive edge comes from having GemEx Certificate and online presence to having intensive experience in terms of providing valuable services to customers.


  • ZCOVA’s revenues saw an increase of 30% in the month of June coming out strong on the tail-end of the MCO as compared to pre-MCO.
  • Moreover, the firm is looking at strong Y-O-Y growth for FY21&22 as they expand their operations to Singapore, vying for a top spot at the growing south-east Asian financial hub.
  • Delivery will be protected by comprehensive security SOP and insurance.

Best Practices:

To get funded with RM 1 million, make sure your startup has a strong team and on the right track to disrupt traditional market.

Editor's comments:

Wish ZCOVA and NEXEA 1 million times more successful moving forward.


Diamonds are forever ?
Diamonds are forever
Photo by Nick Karvounis on Unsplash