De Beers Invests in Try-Before-You-Buy Start-Up Gemist
February 08, 22
(IDEX Online) - De Beers has bought a stake in the try-before-you-buy jewelry start-up Gemist.
De Beers Group Ventures invested an undisclosed amount in the Los Angeles-based company in October 2020.
And it is now part of a £3m seed round of funding led by Entrada Ventures, based in Santa Barbara, California.
The investment will allow Gemist, founded in 2018, to scale its growth. It is the first online platform that allows buyers to customize jewelry and try it on at home before they buy.
Stephen Lussier, executive vice president of consumer and brands at De Beers will join the Gemist board to help develop consumer engagement partnerships.
Gemist founder and CEO Madeline Fraser. "The combined vision and expertise of these two partners (De Beers and Entrada) and will guide Gemist as we continue our mission to disrupt the fine jewelry industry through technology."
Pic courtesy Gemist