Gemist, the U.S. based fine jewelry brand and digital platform, is proud to announce its seed round of funding led by Entrada Ventures and co-investor De Beers Group Ventures. Gemist utilizes design technology and a unique try-on model that empowers consumers to customize their own jewelry online and receive complimentary replicas to try on at home before completing their purchase.
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“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.”
Gemist is revolutionizing and customizing the jewelry shopping experience by giving consumers unprecedented access to the power of design, allowing users to make decisions that reflect their personal aesthetic and create jewelry that is truly meaningful to them. All jewelry available on Gemist is handmade using responsibly-sourced materials and ethical practices in Los Angeles.
“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,” said Gemist Founder and CEO Madeline Fraser. “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.”
The $3 million investment will allow Gemist to continue scaling its growth as an experiential jewelry platform in the digital space. As part of the investment, Entrada Ventures Managing Partner Julie Henley McNamara will join the Gemist board alongside De Beers Group Executive Vice-President of Consumer & Brands Stephen Lussier.
“Gemist is a transformative business that brings the traditional jewelry industry online for today’s modern consumer,” said McNamara. “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,” said Lussier. “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.”
Gemist is backed by some of the most well-recognized venture capital firms in the consumer space, including Hawke Ventures, Luma Launch, Lightspeed Scout Ventures, Mana Ventures, Spacestation Ventures, Kinsley Partners, Lunch Partners, and Canaan Scout Fund.
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