Artemest, an online luxury marketplace based in Milan, Italy, has raised $1.2 million in seed funding.
The investment round was led by Italian Angels for Growth aka IAG, with participation from Alina Lundry, Kirstie Steiner. Shark Bites, a venture capital holding company whose main shareholder is Fabio Cannavale, founder and CEO at lastminute.com and family office Rancilio Cube represented by Luca Rancilio, also contributed to the round, FinSMEs reports.
Ippolita Rostagno, the famed designer behind luxury jewelry brand, Ippolita, and Marco Credendino, launched Artemest in October 2015. The online platform features more than 5,000 handmade luxury products from 230 independent creators. The product assortment is mainly focused on the home décor, lifestyle and jewelry categories.
In a content-commerce play, the site also has a section dedicated to shoppable stories that educate shoppers about how the product is made.
Rostagno and Credendino said they will use the new investment to expand the site’s presence in the U.S. and the UK. The funding will also be used to increase the number artisans and makers on Artemest.