M.Gemi raises $16 Million In Series C funding
M.Gemi, a direct-to-consumer accessories brand, announced on Tuesday that it has received a $16 million Series C investment, increasing its total funding to $47.2 million.
BurdaPrincipal Investments, the growth capital arm of German tech and media company Hubert Burda Media and an investor of BaubleBar and Etsy, led the Series C investment. Accel, General Catalyst Partners, and Forerunner Ventures also participated in the investment.
CEO Ben Fischman, President Cheryl Kaplan and Chief Merchant Maria Gangemi founded M.Gemi in 2015. The Boston-based accessories startup combines old world craftsmanship with new world technology, offering Italian-made handmade pieces every Monday at uncommon prices. The brand currently operates a storefront in New York City at 120 Wooster Street in SoHo and at Boston's Prudential Center.
The Series C funding will help M.Gemi continue to invest in advanced technology to enhance predictive analytics, as well as the brand’s supply chain in Italy.
"M.Gemi is truly disrupting the luxury marketplace through its utilization of data science and uniquely competitive production network in Italy," said Christian Teichmann, Managing Director of BurdaPrincipal Investments.
"We are impressed by the brand's combination of art and science and the expertise of the team at the helm. With such compelling early success online and offline, M.Gemi has a tremendous opportunity to lead a monumental shift in the way brands think about the consumer and the global marketplace."
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