Sarine (company)

Last updated

Sarine Technologies Ltd
Company type Public
SGX: U77.SI
Industry
  • Diamond processing
  • Diamond grading
  • Diamonds and gemstones technologies
Area served
Worldwide
Key people
Daniel Benjamin Glinert
(Chairman & Executive Director),
David Sydney Block
(CEO)
RevenueUS$58.64 million (2018)
US$5.76 million (2018)
Total assets US$80.36 million (2018)
Number of employees
542
Subsidiaries Sarin Technologies India Pvt Ltd, Galatea Ltd Israel, Sarine north America Inc., Sarin Hong Kong Ltd.
Website sarine.com

Sarine Technologies Ltd is a publicly traded company that develops, produces and sells technologies for the diamond industry, including devices for the planning, analysis and grading of rough and polished diamonds. [1] Company headquarters are located in Hod Hasharon, Israel. The company operates subsidiaries in Dalton, Israel, India, New York [2] and Hong Kong. In 2017, Sarin India, the Indian subsidiary, opened “Sarin House” in Surat, consolidating the company's Surat-based activities in one facility. [3]

Contents

The company is publicly traded on the Singapore Exchange (SGX) [4] and was the first Israeli company to be listed there. [5] In 2018, Sarine opened the Sarine Technology Lab at the Israel Diamond Exchange, [6] and later that year opened a lab in Mumbai, India. [7] The Sarine labs are the first diamond laboratories in the world to use diamond grading technologies based on artificial intelligence. [8]

History

Sarin Technologies was established in 1988. [9] On January 21, 2014, the name was officially changed to Sarine Technologies. [10]

The company's first product was the Robogem, an automated device for gemstone processing, as part of an initiative promoted by the Israel Emerald Cutters Association. [11]

In the early 1990s, the company released DiaMension®, [9] one of the world's first diamond cut grading software that could accurately measure a rough diamond's measurements within seconds. This transformed the way the industry approached the process of diamond cutting and fueled consumer demand for a wider range of cuts. [12] In the mid-1990s, the company released the DiaExpert® hardware and Advisor® software for automated rough diamond planning via 3D diamond scanning. [13]

In 2005, the company released the first green laser diamond sawing machine, called Quazer®, based on proprietary technology purchased from CNC Laser, a Belgian company. [14] New versions of the Quazer® were released in 2010 and 2014. [15]

In 2012, Chow Tai Fook Jewellery Group, part of the Chow Tai Fook conglomerate in Hong Kong, implemented Sarin's Solaris® 100 and DiaExpert® Eye systems for inclusion mapping and rough planning at their diamond manufacturing facilities in China and South Africa. [16]

In 2014, Sarine launched Sarine Loupe™, a diamond imaging device that enables 360-degree viewing of diamonds. [17] In the same year, RapNet® announced that it was incorporating Sarine Loupe imagery on its diamond trading platform. [18] In November, a Sarine Loupe™ service center was opened in the Diamond District of New York. [19]

In 2014, Sarine signed a cooperation agreement with Tiffany & Co. to develop an automated system for the grading of symmetry of polished diamonds based on grading standards set by Tiffany. [20]

The Gemological Institute of America (GIA) adopted Sarine Instructor® as its standard software for diamond grading and analysis in 2015, updating from the DiaVision software by Sarine that it had been using in its labs since 2010. [21]

In 2016, the company acquired Diamining, a developer of point-of-sale apps for the diamond and jewelry industry, for $1.2 million. [22] The Diamining technology was used as the basis for the development of Sarine Connect™, a diamond inventory search and display app for traders and retailers. [23]

In February 2017, Sarine and GTTL Laboratories of Switzerland signed a collaboration agreement to research new approaches to diamond grading and authentication, as well as other industry challenges. [24]

In 2017, three Indian nationals were arrested on suspicion of attempting to execute a $1 million bribe in exchange for the intellectual property of Sarine's diamond planning software. [25] That same year, the company filed a lawsuit in India against a diamond manufacturer in Surat. Citing fraud and breach of contract, Sarine accused the manufacturer of allegedly hacking and manipulating the Sarine Galaxy® technology, and under-reporting the weight of diamonds scanned in the system. [26]

In August 2018, Sarine entered into an agreement with Lucara Diamond Corp to provide Advisor® rough planning and Galaxy® inclusion mapping technologies for the Clara rough diamond trading platform, developed by Lucara. [27]

Notable products & technological services

Sarine Galaxy

In 2008, Sarin Technologies purchased Galatea Ltd, an Israeli company that developed scanning and mapping technology for the detection of inclusions in rough diamonds, at a cost of $10.77 million. [28] Following the development of the prototype to commercial application, Sarine released the Galaxy® in 2009, the world's first fully automated inclusion mapping device for rough diamonds. [29] In early 2018, the company announced that Galaxy® systems scanned over 10 million rough stones worldwide during 2017, out of a total 30 million stones scanned by the technology since it first launched in 2009. [30] In 2018, the first Galaxy® service center in China was opened, in the Sha Wan Jewellery Park in Guangzhou. [31]

Sarine Light

In 2011, the company launched the Sarine Light™ light performance grading device. The technology that forms the basis of the Sarine Light™ was purchased by Sarine Technologies in 2010. [32] The first version of the Sarine Light™ was known as Sarin D-Light. [33] The first Sarine Light™ system was sold to diamond manufacturer EXELCO in 2013. [34]

Sarine Profile

In early 2015, Sarine announced the launch of the Sarine Profile™ platform [35] that provides a digital visual story of the diamond, with the aim of increasing efficiency in the diamond trade and retail sector. [36] In 2017, the Sarine Profile™ platform was expanded to include 4Cs grading based on new color and clarity technologies developed by the company. [37] In August 2018, the first Sarine Profile™ service center was opened in Japan. [38]

Sarine Color and Sarine Clarity

In 2016, Sarine announced that it was developing new devices for automated grading of diamond color and clarity. [39] Known as Sarine Clarity™ and Sarine Color™, the devices are based on machine learning, and are regarded as creating the first standardized and automated approach to diamond grading and gem labs. [40] [41]

Diamond Journey

In February 2018, Sarine announced the launch of the Diamond Journey™, a digital platform that displays information about a polished diamond throughout the manufacturing process from rough status to polished state. The Canadian mining company Dominion Diamond Mines was the first company to adopt the Diamond Journey for its CanadaMark diamond brand. [42]

Sarine Advisor

Many diamond manufacturers use Sarine Advisor software for mapping, planning and scanning of rough/polish diamond. [43] The software take input from different diamond scanning machines of Sarine. Final output integrates internal inclusion scanning information and geometrical 3D analyses. Current Sarine Advisor software's major release version is 7.0 which was released on 21 June 2017. [44]

Sarine Loupe

Sarine Loupe allows a user to view the actual details of a diamond as if holding the diamond in hand and viewing through an eye loupe. [45]

Related Research Articles

<span class="mw-page-title-main">Diamond cutting</span> Faceting of a rough diamond to increase its brilliance

Diamond cutting is the practice of shaping a diamond from a rough stone into a faceted gem. Cutting diamonds requires specialized knowledge, tools, equipment, and techniques because of its extreme difficulty.

<span class="mw-page-title-main">Color grading</span> Enhancing the color of an image or video

Color grading is a post-production process common to filmmaking and video editing of altering the appearance of an image for presentation in different environments on different devices. Various attributes of an image such as contrast, color, saturation, detail, black level, and white balance may be enhanced whether for motion pictures, videos, or still images. Color grading and color correction are often used synonymously as terms for this process and can include the generation of artistic color effects through creative blending and compositing of different layer masks of the source image. Color grading is generally now performed in a digital process either in a controlled environment such as a color suite, and is usually done in a dim or dark environment.

<span class="mw-page-title-main">Diamond cut</span> Type of cut used when shaping a diamond

A diamond cut is a style or design guide used when shaping a diamond for polishing such as the brilliant cut. Cut refers to shape, and also the symmetry, proportioning and polish of a diamond. The cut of a diamond greatly affects a diamond's brilliance—a poorly-cut diamond is less luminous.

<span class="mw-page-title-main">Diamond clarity</span> Relating to the appearance of internal and surface defects in diamond

Diamond clarity is the quality of diamonds that relates to the existence and visual appearance of internal characteristics of a diamond called inclusions, and surface defects, called blemishes. Clarity is one of the four Cs of diamond grading, the others being carat, color, and cut.

Diamond enhancements are specific treatments, performed on natural diamonds, which are designed to improve the visual gemological characteristics of the diamond in one or more ways. These include clarity treatments such as laser drilling to remove black carbon inclusions, fracture filling to make small internal cracks less visible, color irradiation and annealing treatments to make yellow and brown diamonds a vibrant fancy color such as vivid yellow, blue, or pink.

<span class="mw-page-title-main">Gemological Institute of America</span> Research institute in Carlsbad, California

The Gemological Institute of America (GIA) is a nonprofit institute based in Carlsbad, California. It is dedicated to research and education in the field of gemology and the jewelry arts. Founded in 1931, GIA's mission is to protect buyers and sellers of gemstones by setting and maintaining the standards used to evaluate gemstone quality. The institute does so through research, gem identification, diamond grading services, and a variety of educational programs. Through its library and subject experts, GIA acts as a resource of gem and jewelry information for the trade, the public and media outlets.

<span class="mw-page-title-main">Diamonds as an investment</span>

Diamonds were largely inaccessible to investors until the recent advent of regulated commodities, due to a lack of price discovery and transparency. The characteristics of individual diamonds, especially the carat weight, color and clarity, have significant impact on values, but transactions were always private. With the standardized commodity as an underlying asset, several market traded financial instruments have been announced.

<span class="mw-page-title-main">Alrosa</span> Russian diamond mining company

Alrosa is a Russian group of diamond mining companies that specialize in exploration, mining, manufacture, and sale of diamonds. The company leads the world in diamond mining by volume. Mining takes place in Western Yakutia, the Arkhangelsk region, and Africa. Alrosa is Russia's leading diamond mining and distribution company, accounting for 95% of Russian diamond production and 27% of global diamond extraction.

<span class="mw-page-title-main">Loupe</span> Magnifying device

A loupe is a simple, small magnification device used to see small details more closely. They generally have higher magnification than a magnifying glass, and are designed to be held or worn close to the eye. A loupe does not have an attached handle, and its focusing lens(es) are contained in an opaque cylinder or cone. On some loupes this cylinder folds into an enclosing housing that protects the lenses when not in use.

Diamond flaws are common. Few natural diamonds are perfect; most of them have inclusions or imperfections. These inclusions are also known as flaws and exist in various forms, such as exterior and interior. Inclusions are also classified in the manner in which they were formed. For example, syngenetic diamond inclusions are inclusions which were formed while a diamond formed, while epigenetic inclusions occurred after a diamond was formed.

ImaGem Inc. is a gem information company based on patented technology for grading and identifying gems. The parent company, ImageStatistics, offers applications in imaging and image processing for the medical, pharmaceutical, manufacturing, chemical and quality assurance industries. ImaGem was created after 20 years of research done on human perception and ImageStatistics, a statistical tool developed by Dr. Lalit K. Aggarwal. ImaGem’s Systems employ advanced optics, imaging technology and proprietary software programs to automate and integrate diamond grading. In addition to evaluating the 4C’s of diamond grading, ImaGem also analyzes Light behavior information based on precise and repeatable measures; three complementary dimensions of brilliance, intensity and sparkle. ImaGem has created a system of uniquely identifying and registering (fingerprinting) a stone without any need for laser inscription. By offering all this information, ImaGem has promoted decision-making and efficiency in the gem industry supply chain. In 1998, ImaGem Inc. was incorporated in the state of Pennsylvania, USA after funding from a major retailer, Ben Franklin Technology Partnership, and private funding. The company has developed an integrated technology to collect image data for diamonds and gemstones, analyze it using direct measurement methodology and grade for precise and repeatable measurements.

<span class="mw-page-title-main">PrimeSense</span> Former Israeli company

PrimeSense was an Israeli 3D sensing company based in Tel Aviv. PrimeSense had offices in Israel, North America, Japan, Singapore, Korea, China and Taiwan. PrimeSense was bought by Apple Inc. for $360 million on November 24, 2013.

<span class="mw-page-title-main">Lucara Diamond</span> Canadian mining company

Lucara Diamond Corp. is a diamond exploration and mining company, founded in 2009 by two Canadian mining executives, Eira Thomas, Catherine McLeod-Seltzer, and Swedish-Canadian mining billionaire Lukas Lundin, operating in Southern Africa but established in Canada. In August 2024, the world's second largest gem-quality diamond ever found, was found at the Karowe mine in Botswana.

The GNOME Core Applications are a software suite of software applications that are packaged as part of the standard free and open-source GNOME desktop environment. GNOME Core Applications have a consistent look and feel to the GNOME desktop, utilize the Adwaita design language and tightly integrate with the GNOME desktop. GNOME Core Applications are developed and maintained through GNOME's official GitLab instance.

<span class="mw-page-title-main">Lesedi La Rona</span> 4th largest diamond, found 2015

Lesedi La Rona, formerly known in media as Karowe AK6 or as Quad 1 by the personnel at the mine, is the fifth-largest diamond ever found, and the third-largest of gem quality. It was found in the Karowe mine, in Botswana on 16 November 2015.

<span class="mw-page-title-main">Aphelion (software)</span> Image processing and analysis software suite

The Aphelion Imaging Software Suite is a software suite that includes three base products - Aphelion Lab, Aphelion Dev, and Aphelion SDK for addressing image processing and image analysis applications. The suite also includes a set of extension programs to implement specific vertical applications that benefit from imaging techniques.

The Sewelô diamond is the fourth-largest rough diamond ever found. The diamond was recovered in April 2019 by the Lucara Diamond Corp in its Karowe diamond mine in Botswana. The diamond is 1,758 carats and weighs 352 grams or 12.39 oz.

<span class="mw-page-title-main">HB Antwerp</span> Diamond company

HB Antwerp is a diamond cutting and technology company based in Antwerp, Belgium. It was founded in 2020 by Shai de Toledo, Rafael Papismedov, and Oded Mansori.

Karowe diamond mine is a mine located in Botswana. It is an open-pit mine. In 2021, Lucara Diamond secured $220 million to take the mine underground.

References

  1. ↑ "Company Overview of Sarine Technologies Ltd". Bloomberg. Retrieved November 11, 2018.
  2. ↑ "Sarine Technologies Opens New Subsidiary Offices In New York". Tacy LTD. November 11, 2018. Retrieved November 11, 2018.
  3. ↑ "Diamond Technology Company Sarine Opens New Facility in Surat". The Diamond Loupe. March 16, 2017. Retrieved November 11, 2018.
  4. ↑ "SARINE:Singapore Stock Quote - Sarine Technologies Ltd - Bloomberg Markets". Bloomberg. Retrieved November 11, 2018.
  5. ↑ "SGX delegation arrives in search of Israeli IPOs". Israel Ministry of Foreign Affairs. May 18, 2015.
  6. ↑ "Sarine opens first tech lab in Israel". JEWELLERYNET. August 21, 2018. Retrieved November 11, 2018.
  7. ↑ "Sarine Technology Lab Officially Opens in Mumbai.Sarine Technologies Ltd". Mines to Market. July 14, 2018. Retrieved November 11, 2018.
  8. ↑ Author (June 5, 2018). "Sarine's AI-based Grading and Diamond Journey™ Tech Showcased in US for First Time at Vegas Show". The Jewelry Magazine. Retrieved November 11, 2018.{{cite web}}: |author1= has generic name (help)
  9. 1 2 "Sarine Technologies and its 'time machines'". Rough & Polished. September 30, 2018. Retrieved November 11, 2018.
  10. ↑ Taylor, Deena (January 23, 2014). "Sarin Changes Name to Sarine Technologies". Diamonds.net. Retrieved November 11, 2018.
  11. ↑ "The Emerald Industry in Israel – Gemma News Service". Gemma News Service. May 17, 2010. Retrieved November 11, 2018.
  12. ↑ Adler, Claire (November 13, 2010). "Stone cutting: Polish on the potential of rough stones". Financial Times . London.
  13. ↑ Sapora, Raul (May 17, 2010). "The Emerald Industry in Israel". Gemma News Service. Retrieved November 11, 2018.
  14. ↑ "Sarin brings green laser technology to CNC diamond cutter". Industrial Laser Solutions. September 10, 2018. Retrieved November 11, 2018.
  15. ↑ "Sarine Technologies Announces Quazer3". Diamonds.net. April 18, 2014. Retrieved November 11, 2018.
  16. ↑ "Sarin Tech is the choice for Chow Tai Fook Jewellery". The Edge Markets. June 13, 2012. Retrieved November 11, 2018.
  17. ↑ Technologies, Sarine (April 28, 2014). "Sarine Customers Begin Using Sarine Loupe Imaging". Diamonds.net. Retrieved November 11, 2018.
  18. ↑ "Rapaport's RapNet to be the Launch Platform for Sarine Loupe Imaging". Diamonds.net. May 28, 2014. Retrieved November 11, 2018.
  19. ↑ "Sarine Loupe Service Center Opens in New York". Diamonds.net. November 19, 2014. Retrieved November 11, 2018.
  20. ↑ "New Israeli Breakthrough Machine To Standardize Diamond Grading". Jewish Business News. November 11, 2016. Retrieved November 11, 2018.
  21. ↑ "GIA adopts Sarine Instructor as standard software". National Jeweler. April 12, 2015. Retrieved November 11, 2018.
  22. ↑ "Sarine Acquires Diamining". JCK. June 2016. Retrieved November 11, 2018.
  23. ↑ "appstor.io". appstor.io. Retrieved November 11, 2018.
  24. ↑ "Sarine Technologies And Ggtl Laboratories Enter Into A Powerful Partnership To Research New Approaches To Gemmological Challenges In The Diamond Industry". News – Internet Stones. February 28, 2017. Retrieved November 11, 2018.
  25. ↑ Surkes, Sue (September 6, 2017). "Three Indians arrested in $1 million Israel diamond sting". The Times of Israel. Retrieved November 11, 2018.
  26. ↑ "Israeli firm files lawsuit against city's diamond co for fraud". The Times of India. February 22, 2018. Retrieved November 11, 2018.
  27. ↑ "Lucara Diamonds enters agreement with Sarine Technologies". Miningreview.com. May 6, 2017. Retrieved November 11, 2018.
  28. ↑ "Sarin to Buy Diamond Technology Firm Galatea". IDEX Online. Retrieved November 11, 2018.
  29. ↑ "Galatea System developed by Sarine Technologies Installed at Israel's Modern Manufacturing Center". News – Internet Stones. May 5, 2015. Retrieved November 11, 2018.
  30. ↑ "Sarine Inclusion Mapping System Scanned 10M Rough Diamonds In 2017". GEMKonnect. January 8, 2018. Retrieved November 11, 2018.
  31. ↑ Robinson, Albert. "Sarine Opens New Galaxy Inclusion Mapping Service Centre in China". IDEX Online. Retrieved November 11, 2018.
  32. ↑ "Sarin buying out Light Performance Technology". DiamondWorld.Net. Retrieved November 11, 2018.
  33. ↑ Miller, Jeff (September 19, 2011). "Sarin Introduces 'Sarin D-Light' for Diamond Characteristics". Diamonds.net. Retrieved November 11, 2018.
  34. ↑ "EXELCO Adopts Sarine Light 'Light Performance' Grading". Diamonds.net. July 24, 2013. Retrieved November 11, 2018.
  35. ↑ "Sarine Tech launches Sarine Profile for polished diamond wholesale and retail trade". The Edge Markets. March 13, 2015. Retrieved November 11, 2018.
  36. ↑ Bossetta, Brian (March 16, 2015). "Sarine Debuts Its 'Profile' Technology". Diamonds.net. Retrieved November 11, 2018.
  37. ↑ "Sarine Expands Services to Include Diamond Grading". National Jeweler. October 8, 2018. Retrieved November 11, 2018.
  38. ↑ Pant, Meghna (August 31, 2018). "Japan Gets Sarine Profile™ Service Centre". The Jewelry Magazine. Retrieved November 11, 2018.
  39. ↑ "Sarine unveils new tech to grade diamond color & clarity". Geektime. November 13, 2016. Retrieved November 11, 2018.
  40. ↑ "Will Sarine's New Machines Change Diamond Grading?". JCK. December 2, 2016. Retrieved November 11, 2018.
  41. ↑ "New Israeli machine to standardize diamond grading". Phys.org. November 10, 2016. Retrieved November 11, 2018.
  42. ↑ Robinson, Albert. "Dominion Diamond Adopts Sarine Diamond Journey for CanadaMark Diamonds". IDEX Online. Retrieved November 11, 2018.
  43. ↑ "Advisor - the world standard for rough planning".
  44. ↑ "New Release: Sarine Advisor 7.0 Rough Planning Software". Sarine. June 21, 2017.
  45. ↑ "Sarine Loupe™".
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