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Gemist

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gemist.co

Founded Year

2018

Stage

Seed VC - II | Alive

Total Raised

$3M

Last Raised

$3M | 8 mos ago

About Gemist

Gemist is an online platform that allows users to customize jewelry and try it on at home before buying.

Headquarters Location

640 S Hill St Suite 447

Los Angeles, California, 90014,

United States

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Expert Collections containing Gemist

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Gemist is included in 3 Expert Collections, including Apparel & Accessories.

A

Apparel & Accessories

509 items

This Collection includes startups selling apparel and accessories ranging from activewear to dresses to glasses.

D

Direct-To-Consumer Brands (Non-Food)

1,192 items

Startups selling their own branded products directly to consumers through owned e-commerce channels, rather than relying on department stores or big online marketplaces.

E

E-Commerce

9,766 items

Latest Gemist News

Try Before You Buy: Inside Gemist's Unique Model Disrupting Online Jewelry Shopping

May 17, 2022

I cover founders, brands and trends across various industries May 17, 2022, Courtesy of Gemist With the global fine jewelry market projected to hit $340 billion by 2025 , 18-21% of those sales are forecasted to be made online. The rise of online fine jewelry shopping is largely due to the change in consumer behavior led by millennials and Gen Z specifically for engagement rings. But the biggest hurdle the industry has seen is actually delivering what the customer wants without them seeing or touching it, causing return rates to be higher than average. Gemist has aimed to make the process more seamless whether you’re buying an engagement ring or huggie earrings through their design experience and home “try on box” option. CEO and founder of Gemist, Madeline Fraser, came up with the premise for Gemist through her first-hand frustration of unsuccessfully designing a custom engagement ring online. “Before I started Gemist, I was looking for my own engagement ring but I wanted something custom and unique to me. Being a digital consumer and a start-up tech founder, buying online was my first instinct. It wasn’t until I started shopping that I realized that option really didn’t exist! To me, the combination of a beautiful design experience and the ability to see and feel your design in person before purchasing was necessary to give consumers an easy and fun experience. Try-on is becoming a more common experience in many other industries. When I realized this wasn’t happening at all in jewelry, I knew I had to dive in - the opportunity was too huge to pass up,” Fraser explained. Gemist allows customers to customize and design their own jewelry online. Courtesy of Gemist Adding try-on to the intersection of technology and custom fine jewelry has been a key differentiator for Gemist. The Gemist customer gets to design and customize their jewelry piece online, next Gemist sends a try-on box for them to physically try on their unique design and then they can decide what to purchase. “We were the first to spearhead this kind of a unique experience with an important factor in mind — to make sure the consumer is able to design the pieces they try on,” Fraser shared. “It was very important to me that we give the consumer the power of choice. They can decide what combination of elements work best for their aesthetic. By adding design to the flow, we give the consumer the experience of trying on what they actually want to see, not just what’s available. The combination of design and try is really our value-add that isn’t available anywhere else.” Fraser wants to be a major player in the shift of the jewelry industry moving towards digital focus and customization paired with a try-on experience that can help bridge that gap for the industry. “We know that 85% of today’s modern consumers expect customization and 71% want to try before they buy. This is a demographic that’s been trained to create items that feel unique to them and usually is presented with the choice of try-on. It’s common in other industries like fashion & eyewear, so it makes perfect sense when it comes to rolling these experiences into jewelry. The jewelry industry as a whole is minimally online and rooted in traditional family jewelers and brick & mortar retailers. It was going to take someone with a different perspective and background (in my case consumer technology) to begin to shift the industry toward a more digitally-focused direction.” MORE FOR YOU

Gemist Web Traffic

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Gemist Frequently Asked Questions (FAQ)

  • When was Gemist founded?

    Gemist was founded in 2018.

  • Where is Gemist's headquarters?

    Gemist's headquarters is located at 640 S Hill St, Los Angeles.

  • What is Gemist's latest funding round?

    Gemist's latest funding round is Seed VC - II.

  • How much did Gemist raise?

    Gemist raised a total of $3M.

  • Who are the investors of Gemist?

    Investors of Gemist include De Beers Ventures, Entrada Ventures, Legendary Ventures, Luma Launch, Lightspeed Venture Partners and 8 more.

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