Alven et al. inject €3.1m into Gemmyo

Alven contributed €2.75m to the round. The GP closed its latest fund on its €120m hard-cap in March this year, after nine months on the road.

Existing angel investors in Gemmyo include the founders of AuFeminin.com and PriceMinister. The company had raised €340,000 in December 2011 and €600,000 six months later.

Gemmyo will use the fresh funding to strengthen its offering in its core market, capitalise on development opportunities as they arise and aim for international development in the longer term.

Company
Founded in 2011, Gemmyo is an online jeweller allowing customers to design their own items and purchase them online. Its creations are tailor-made in three to four weeks.

Based in Paris, Gemmyo expects to post a €1m turnover for 2013. The company's founders are aiming for revenues of €3m in 2014 and expect the business to become profitable that year.

People
Nicolas Celier led the deal for Alven.

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• Topics
• France
• Expansion
• Consumer
• France
• Alven Capital