The digital jewelry platform Gemist has just recently raised $3M in a seed round led by Entrada Ventures and co-investor De Beers Group Ventures.
“As a business set out to innovate the fine jewelry shopping experience, we have been fortunate to receive the continued support of De Beers and we stand to benefit enormously from our new partnership with Entrada Ventures. The combined vision and expertise of these two partners will guide Gemist as we continue our mission to disrupt the fine jewelry industry through technology,” said Gemist Founder and CEO Madeline Fraser.
According to a statement from Entrada Ventures Managing Partner Julie Henley McNamara, who will be joining the Gemist board, "Gemist is a transformative business that brings the traditional jewelry industry online for today’s modern consumer. We look forward to establishing Gemist as a leader in the digital jewelry space, and we fervently believe in their ability to alter consumer shopping behavior.”
“Gemist has tremendous growth potential and has begun to enhance the reach and scope of the digital jewelry industry through its marriage of customization technology and try-on model. De Beers looks forward to continued collaboration with Gemist as we highlight the positive environmental and social impact that natural diamonds deliver for the people and places where they are discovered,” said Stephen Lussier, De Beers Group Executive Vice-President of Consumer & Brands. Lussier will be joining McNamara on the Gemist board.
Gemist is the first online platform that allows you to customize jewelry and try it on at home before you buy. This trailblazing platform is now available to anyone who wants the opportunity to create something uniquely their own within their personal style. Our jewelry is crafted by our dedicated Gemist team who create each one-of-a-kind piece with responsibly-sourced fine materials in Los Angeles, California.
About Entrada Ventures
Entrada Ventures is a seed stage venture fund started by passionate, experienced operators and investors who have built multiple successful companies. Entrada Ventures is based in Santa Barbara, CA, and invests across a broad range of innovative technologies.
About De Beers Group Ventures
De Beers Group Ventures, part of IgniteTM, is De Beers Group’s innovation division, which is focused on working with growth companies to pursue strategic opportunities that benefit De Beers Group and the diamond industry.
Information originally sourced from BusinessWire.