A diamond, they learned, could be formed in 150 minutes, or 2.5 hours, a drastically expedited operation compared to the weeks-long process to make a lab-grown diamond fit for a wedding ring.

The Robb Report estimated that lab-grown diamonds sales reached around $420 million last year. That’s almost 3% of the $14 billion annual diamond market.

Lab-grown diamonds are made by scientists under controlled conditions, which proponents say cuts down on the potential for a negative environmental impact or human cost of mining diamonds.

Diamond Foundry is expanding into the luxury jewelry market for lab-grown diamonds through its vertically-integrated business model and its DTC jewelry brand Vrai.

This engagement ring from Concierge diamonds has a 1ct lab grown diamond with 2 pink sapphires in a14K yellow gold band. (Prices start at $3,500 depending on the center diamond) ...