It’s the Signet-owned banner’s first location in Georgia.
Blockchain Provider Everledger Closes on $20M in Funding
The London-based tech company has developed blockchain platforms for both colored gemstones and diamonds.
London—Blockchain provider Everledger announced Tuesday that it has secured its first significant round of venture capital funding, $20 million backed by Tencent Holdings Ltd.
Based in Shenzhen, China, Tencent is a digital media and telecom conglomerate that’s one of the 10 biggest tech companies in the world by market cap, according to U.S. News & World Report.
Tencent now holds a seat on the Everledger board.
Also participating in the Series A round of funding were: Bloomberg Beta, Fidelity, Japanese e-commerce company Rakuten, and two venture capital firms, Graphene Ventures—whose investment portfolio includes Lyft and Snapchat—and Vickers Venture Partners.
Based in London and led by founder and CEO Leanne Kemp, Everledger has developed blockchain platforms for both colored gemstones, created in partnership with Gübelin Gem Lab, and diamonds, as well as fine wine, other luxury goods and the management of electronics waste.
The company offered its technology pro bono for the Moyo Gemstones pilot project in Tanzania, which aims to move the production of female miners in the Tanga region from mine to market.
RELATED CONTENT: State of the Diamond Industry—New Kids on the Block(chain)
The news that Everledger has completed its Series A funding comes less than a week after the company announced it was launching version 2.0 of its blockchain platform, and now has a partnership with Spanish jewelry manufacturer Facet, which launched a collection of blockchain-traced diamond jewelry, “DiamondByway.”
Everledger said it is the first collection of traceable jewelry in Europe.
In the wake of Tencent’s investment, Everledger said it plans to launch a program on WeChat—the Tencent-developed messaging (like WhatsApp), social media and payments app for the Chinese market—for blockchain-enabled diamonds that “aims to empower WeChat users to buy jewelry with more transparency and security.”
An Everledger spokesperson declined to share additional details on the WeChat Mini Program at this time.
The Latest
Commemorate “brat summer” with these green hoops.
Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
Sponsored by Gemological Institute of America
They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
A longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
The fine jewelry retailer filled backpacks with back-to-school essentials for students in 13 states.
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
Los Angeles-based Bradlei Smith was selected for this year’s award.
In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
The giveaway is part of the New England jeweler’s summer bridal event.
The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
Dance all night long with the “So Move Max” set’s necklace.
Luxury giant LVMH is reshuffling the leadership in its watches division.