US-based fine jewellery brand and digital platform Gemist has secured $3m in seed funding from Entrada Ventures and De Beers Group Ventures.
The company plans to use the growth funding round to drive its growth in the digital space.
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By GlobalDataGemist is a digital platform that allows customers to personalise jewellery and receive a replica of it at home before they make their purchase.
The company said that all its jewellery is handmade using responsibly sourced materials and ethical practices in Los Angeles, where it is headquartered.
Gemist founder and CEO Madeline Fraser said: “As a business set out to innovate the fine jewellery 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 jewellery industry through technology.”
Following this investment, Entrada Ventures managing partner Julie Henley McNamara and De Beers executive consumer and brands vice-president Stephen Lussier will join Gemist’s board of directors.
Other venture capital firms that have supported Gemist include Hawke Ventures, Luma Launch, Lightspeed Scout Ventures, Mana Ventures and Spacestation Ventures.
McNamara said: “Gemist is a transformative business that brings the traditional jewellery industry online for today’s modern consumer.
“We look forward to establishing Gemist as a leader in the digital jewellery space, and we fervently believe in their ability to alter consumer shopping behaviour.”
Lussier said: “Gemist has tremendous growth potential and has begun to enhance the reach and scope of the digital jewellery industry through its marriage of customisation 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.”
