DSee Imaging Ltd., an Israel-based company that develops 3-D imaging technologies for the diamond industry and other industries, has sold its D-See technology to Sarin Technologies Ltd., a globally recognized leader in the development and manufacturing of advanced planning, evaluation and measurement systems for diamond and gemstone production. The D-See technology is a revolutionary imaging method to capture a realistic and accurate image of a polished diamond, including all of its internal characteristics, and enables the electronic transmission of these features from seller to buyer.
DSee’s chairman, Shai Schnitzer, who is also president of the Israel-based S. Schnitzer Diamonds firm, said that he and DSee co-founder Yaniv Ben Hagai had worked on the development of the D-See technology since 2007. Under the terms of the agreement between the two firms, Sarin will pay to Dsee Imaging royalties from the actual future revenues, for a period of not less than seven years and up to the life of the patents, as granted, in the relevant jurisdictions, capped at $10 million.
“As the diamond business world truly has become a global village, I felt that the trade was missing a digital tool that would allow prospective buyers to inspect polished diamonds without leaving the comfort and security of their own environment and, more importantly, without the need to spend long days on the road for diamond buying trips, to view, inspect and purchase diamonds in the seller’s offices,” Schnitzer stated.
Schnitzer said the technology developed by his company had, for all practical purposes, aided in fulfilling a need, in particular the ability to assess and value polished diamonds, without a need for the diamond to be physically present.
He noted that the D-See technology may also be instrumental in selling diamonds that are being offered without diamond grading reports. “The overwhelming, mostly ‘invisible’ majority of the diamonds sold in the wholesale market are not accompanied by a grading report. This technology, which will be marketed by Sarin, could enable diamond traders to make these stones fully visible, thus increasing their immediate salability, globally,” Schnitzer concluded.