Menē Inc., a Paris, France-based online 24 karat luxury jewelry brand, raised an up to $21m in growth funding.
The round was led by several institutional and high net worth investors from Canada, Europe, Asia and the U.S. Prior to this round, Menē had raised seed funding from its founders and Goldmoney Inc. (TSX:XAU), which maintains a 32% equity ownership stake.
Anja Rubik has joined Menē as investor, creative advisor.
The company intends to use the funds to accelerate the continued development of the business, which launched under an invitation-only beta on November 15, 2017, with further investments in manufacturing and distribution infrastructure and in customer acquisition programs in both online and offline channels.
Co-founded by CEO Roy Sebag and Chief Artistic Officer and Co-Founder Diana Widmaier-Picasso, Menē designs, manufactures, and markets pure 24 karat gold and platinum investment jewelry™ that is sold direct-to-consumer in 90 countries. Through mene.com, customers can buy, sell, and exchange Menē jewelry by gram weight at the prevailing market prices for gold and platinum plus a transparently disclosed design and manufacturing fee.
Over the last two years, the company has built-out a vertically-integrated business infrastructure which encompasses in-house design, manufacturing, software engineering, marketing, and distribution. It operates its own fulfillment centre in partnership with The Brink’s Company and ships jewelry to consumers in 80 countries within 3 days and with full insurance.