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Sarine (company)

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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]

Sarine Technologies Ltd
Company typePublic
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 assetsUS$80.36 million (2018)
Number of employees
542
SubsidiariesSarin Technologies India Pvt Ltd, Galatea Ltd Israel, Sarine north America Inc., Sarin Hong Kong Ltd.
Websitesarine.com

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

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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

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Sarine Galaxy

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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

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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

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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

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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

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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

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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

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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]

References

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  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. ^ "Sarine's AI-based Grading and Diamond Journey™ Tech Showcased in US for First Time at Vegas Show". The Jewelry Magazine. June 5, 2018. Retrieved November 11, 2018.
  9. ^ a b "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. 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. 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. ^ "Japan Gets Sarine Profile™ Service Centre". The Jewelry Magazine. August 31, 2018. 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. 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". June 21, 2017.
  45. ^ "Sarine Loupe™".
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