Until now assessing rough diamonds was an inaccurate subjective process, at best. This, along  with the difficulty in providing unique identification means, reduced their attractiveness as collateral. 

Hod Hasharon (Israel), 15 January 2023 – Singapore Exchange Mainboard listed Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI; SARN.TA), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, is pleased to announce the signing of a strategic cooperation agreement with the DELGATTO Diamond Finance Fund (DDFF). 

The DDFF is introducing the “Del Gatto 360, Powered by Sarine” service for rough diamonds. This new and revolutionary program will employ Sarine’s technological solutions for uniquely mapping, identifying and evaluating rough diamonds, thereby significantly enabling the scaling up of DDFF’s financing operations of rough diamonds. The new “Del Gatto 360 – Powered by Sarine”  

service will also provide interested parties a unique new capability to have the rough diamonds they  acquired and financed optionally manufactured by the same one entity and in one place, with end to-end traceability fully documented by the Sarine Diamond Journey™ solution. 

The DDFF, today’s largest non-bank diamond financing entity, offers flexible, collateral based  structures to the global diamond industry value chain. With the unveiling of Del Gatto 360, Powered  by Sarine, the DDFF will be able to both significantly increase the amount of capital it provides to  the rough sector of the supply chain, as well as expand the types of structures it offers. This unique  agreement creates, for the first time, a complete solution for entities in the diamond industry to  easily access finance for sourcing of rough diamonds, as well as a full turnkey solution to  manufacture and even sell the polished output. 

Until now assessing rough diamonds was an inaccurate subjective process, at best. This, along  with the difficulty in providing unique identification means, reduced their attractiveness as collateral.  The DDFF and Sarine’s groundbreaking cooperation utilizes Sarine’s various proven industry leading technologies, including the Galaxy^® and DiaExpert^® platforms along with the Advisor^® and  related software processes, to accurately, objectively and rapidly evaluate rough diamonds, as well  as uniquely tagging them, with the result being the ability to reliably ascertain the optimally produced  polished diamonds’ potential value, and hence confidently provide financing. The DDFF will apply  Sarine’s technologies to evaluate if the rough diamond is eligible for the requested financing, and at what level. 

When the diamond’s owner accepts the financing, the DDFF further offers the option to cut and  polish the rough stone in either of its cutting facilities, in Dubai or New York. All diamonds that will  be manufactured by the new Del Gatto 360 solution will optimally implement Sarine’s latest cutting edge systems and software, ensuring the realization of the rough diamonds’ full potential, along  with fully documented transparency throughout the process. Sarine will be remunerated based on  a percentage of the financing extended by the DDFF, with additional remuneration, if the financed  entity opts for the Del Gatto 360 extended services – manufacturing and/or sales. 

Chris Del Gatto, Chairman and CEO of the DDFF said, “For the first time ever, all the elements of  the diamond supply chain are aggregated and made simple due to the joining of Sarine’s  technologies and DDFF’s alternative financing solutions. This opens up the sourcing process to  everyone in the industry, even companies without the skill set of rough analysis or manufacturing,  as well as providing the financial help to those that don’t have the required capital. A seat is now  being offered at what used to be a very exclusive table.”

David Block, CEO of Sarine Technologies, commented, “We are thrilled to support our industry in  yet another one of its requisite pillars – efficient financing. This is another example of our  implementation of our strategy to create added value for our customers by utilizing the extensive  data we generate throughout the diamond value chain, value which goes way beyond diamond  manufacturing”. Mr. Block added, “I am confident that the DDFF will now be able to increase the  capital it injects into the market in a way that will create additional opportunities for the entire  industry, in general, and particularly our many mutual clients.”  

The DELGATTO Diamond Finance Fund is a global finance company founded and operated by  diamond and jewelry industry experts, with offices in New York, Palm Beach (Florida), London,  Dubai and Johannesburg. Since its inception in 2018, the firm has financed over 350 companies  worldwide. DELGATTO provides financing all along the supply chain, from diamond miners, to  midstream cutters and wholesalers, and even to retail diamond and jewelry companies. Its flexible,  repeatable, and scalable platform enables its clients to readily achieve their financial objectives.

Sarine Technologies Ltd. is a worldwide leader in the development and  manufacturing of advanced modeling, analysis, evaluation, planning, processing, finishing, grading  and trading systems for diamonds. Sarine products include the Galaxy® family of inclusion and  tension mapping systems, rough diamond planning and optimisation technologies, laser cutting and  shaping tools, laser-marking, inscription and fingerprinting equipment, automated (AI-derived)  Clarity, Color, Cut and light performance grading systems and traceability, visualization and retailing  services. Sarine systems have become standard tools in every modern manufacturing plant,  properly equipped gemology lab and diamond appraisal business, and are essential aids for  diamond polishers, dealers and retailers.

Also Read

Sarine to acquire a majority stake in New York’s Gem Certification & Assurance Lab

^{Press release submitted by Sarine Technologies. The World Art News (WAN) is not liable for the content of this publication. All statements and views expressed herein are only an opinion. Act at your own risk. No part of this publication may be reproduced without written permission. © The World Art News}