1. News
February 3, 2022

Jewellery company Gemist secures $3m in seed funding round

The company will use the funding to expand its growth in the digital space.

US-based fine jewellery brand and digital platform Gemist has secured $3m in seed funding from Entrada Ventures and De Beers Group Ventures.

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The company plans to use the growth funding round to drive its growth in the digital space.

Gemist 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.”

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.