Gemist Receives $6 Million in Seed Funding

Jewelry tech company Gemist has received $6 million in seed funding from Entrada Ventures, along with Artemis Fund and Collide Capital.

The money will be used to scale and build out the platform, Gemist said in a statement.

Entrada had invested in Gemist’s prior incarnation, a direct-to-consumer site. In 2022, Gemist switched to a business-to-business model, which offers custom-design technology for retailers.

CEO Madeline Fraser (pictured), who cofounded Gemist in 2019, said in a statement that Gemist provides jewelers with “a turnkey platform that lets them customize, visualize, and sell their products digitally, just like designing a car or customizing sneakers.”

Gemist users design more than 14,000 pieces of jewelry every week with its technology, the company said.

Its statement called jewelry “one of the most technologically underserved categories in retail. The vast majority of custom jewelry sales, especially engagement rings, are still handled through manual and offline processes that are time-intensive for both customers and jewelers. A typical custom jewelry purchase requires hours of work to align on a design vision and create a CAD mock-up, all for a purchase that might not even happen.”

(Photo courtesy of Gemist)