Gemist, the US-based fine jewellery brand and digital platform, said its seed round of funding was led by venture fund Entrada Ventures and co-investor De Beers Group Ventures. The $3 million investment will allow Gemist to continue scaling its growth as an experiential jewellery 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 utilises design technology and a unique try-on model that empowers consumers to customise their own jewellery online and receive complimentary replicas to try on at home before completing their purchase.
“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,” the company said in a statement.
All jewellery available on Gemist is handmade using responsibly-sourced materials and ethical practices in Los Angeles. Gemist noted that the platform gives consumers unprecedented access to the power of design, allowing users to make decisions that reflect their personal aesthetic and create jewellery that is truly meaningful to them.
“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,” 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 jewellery industry through technology.” “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,” said Stephen 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.”