US-based footwear producer M.Gemi has raised $16m in a series C round led by Burda Principal Investments, the growth capital arm of media group Hubert Burda Media.
The round also included venture capital firms Accel Partners, General Catalyst Partners and Forerunner Ventures.
Founded in 2015, M.Gemi operates an e-commerce platform as well as brick-and-mortar stores that feature shoes handmade by family-owned workshops in Italy.
The company, which releases new products each week, will put the series C funding toward the continued development of its predictive analytics technology and its supply chain in Italy.
M.Gemi has now secured $47.2m in funding altogether, according to the latest press release. Accel previously led an $18m series B round in November 2015, with participation from General Catalyst, Forerunner and Breakaway Ventures.
General Catalyst had previously led a $14m series A round in March 2015 that included Forerunner and Breakaway.
Christian Teichmann, managing director of Burda Principal Investments, said: “M.Gemi is truly disrupting the luxury marketplace through its utilisation of data science and uniquely competitive production network in Italy.
“We are impressed by the brand’s combination of art and science and the expertise of the team at the helm. With such compelling early success online and offline, M.Gemi has a tremendous opportunity to lead a monumental shift in the way brands think about the consumer and the global marketplace.”