Independent jewellery company, Fenton & Co, which uses technology to create engagement rings, has closed a £850,000 Seed round.
The company’s round was led by Mustard Seed and drew support from The London Co-Investment Fund and various Angel investors.
In a bid to make the luxury engagement ring market more transparent, the business was set up earlier this year by serial entrepreneur Laura Lambert.
Unlike traditional jewellers, where a two-carat diamond ring will typically cost more than £18,000, Fenton & Co. offers the same size for £5,000.
The company works directly with local suppliers and dealers to source materials, claiming to offer customers full supply chain transparency.
Orson Stadler, principal at Mustard Seed, said: “Fenton & Co. is uniquely positioned to address growing demands for price and supply transparency, with its innovative ‘fair production and fair pricing’ approach.
“We have been hugely impressed by Laura’s ability to blend a quantitative and iterative product approach while maintaining an authentic brand, and we are very excited to see the progression of Fenton & Co. in becoming a global force for good across the engagement ring and broader jewellery industries.”
News Source: professionaljeweller.com