Friday, May 26, 2017

Bespoke fine jewelry, with a focus on high fashion and bridal jewelry

In 2011, Jason Payne and Lindsay Reinsmith went shopping for an engagement ring, but ran into what some might call a First World problem.

Given the problem of conflict diamonds — also known as blood diamonds, jewels mined from war zones or brutal insurgencies that ultimately fund those conflicts — "we were not comfortable using mined diamonds. We wanted something that was sustainable, ethical, vegan," Reinsmith told CNBC in a recent interview.

Then, a burst of inspiration hit the couple: Why not grow a stone in a laboratory, free from bloody wars and ethical conflicts that taint the $79 billion diamond industry?

From those early questions, Ada Diamonds — a start-up that provides lab-grown diamonds made through a special process using high pressure and temperature to make stones identical to those extracted from nature — was born. The husband and wife team raised a seed round from 8VC as well as Winklevoss Capital and Autonomous.

Ada Diamonds is part of a growing trend of diamond producers using environmentally sustainable, and ethical, means to produce jewels that don't have ties to insurgencies or politically unstable countries. Using a proprietary process, the company makes bespoke fine jewelry, with a focus on high fashion and bridal jewelry. Customers can custom order diamonds that contain mementos or mark special occasions, yet the entire process is ethically sourced.

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