The fine jewelry customization platform receives growth funding from Entrada Ventures and De Beers Group Ventures.
February 02, 2022 08:00 AM Eastern Standard Time
LOS ANGELES--(BUSINESS WIRE)--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.
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.
About Gemist
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.
For more information, visit https://gemist.co
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.
For more information, visit https://www.entradaventures.com/
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.
For more information, visit https://ventures.debeersgroup.com/
Contacts Paul Wilmot Communications Jane Son - json@paulwilmot.com Liza Backes - lbackes@paulwilmot.com