Consumer Startup M.Gemi Raises $16 Million

M.Gemi announced it has secured $16 million in Series C financing. Four investors contributed to the round: Burda Principal Investments, Accel Partners, General Catalyst Partners, and Forerunner Ventures.

M.Gemi is a new kind of luxury brand that handcrafts shoes in top quality family-owned artisan factories across Italy. The company introduces new limited edition styles every week, and it sells directly to consumers, which allows it to offer shoes at surprisingly affordable prices.

The company revealed that the new funding will fuel ongoing investment in advanced technology to enhance predictive analytics and build the brand’s unique supply chain.