The human arsenal might be expansive beyond all known limits, but it doesn’t have anything as valuable as that tendency of ours to grow on a consistent basis. This is largely because the stated tendency has allowed us to hit upon some huge milestones, with technology appearing as a rather unique member of that group. But why are technology’s credentials so anomalous? Well, the answer here talks at length to its skill-set, which was unprecedented enough to realize a reality for us that nobody could have ever imagined otherwise. Nevertheless, if we look beyond the surface, it should become clear how the whole runner was also very much predicated upon the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, as we discovered, will go on to scale up the human experience from every conceivable direction, but even after achieving such a monumental feat, technology will somehow continue to bring all the right goods to the table. The same has only turned more and more evident in recent times, and truth be told, a new piece of funding does a lot to keep that trend alive and kicking.
Wove, an online custom jewelry company trying to modernize our engagement ring buying experience, has successfully secured over $3.85 in seed financing. Led by Springdale Ventures, the round saw further participation coming from the likes of Outlander VC, Rarebreed Ventures, Context Ventures, PenFed Foundation’s veteran entrepreneur-focused investment vehicle, VEIP, West Point grads-founded WPMC, and Early Light Ventures. According to certain reports, the company will use the newly-raised cash to support the launch of its new e-commerce line, which allows customers to purchase pre-designed rings from Wove’s website, order replicas of pre-designed rings or further customize pre-designed rings. Apart from it, Wove is also expected to dedicate some money towards the development of a dedicated portal that will help customers in tracking the progress of their ring, while enjoying the option to chat live with the designer so to bolster the personalization aspect even further. This improved infrastructure will be joined by the company’s foray into other products, such as earrings, pendants, necklaces and bracelets etc.
When quizzed regarding the company’s core service, Andrew Wolgemuth, CEO and co-founder of Wove, responded by saying:
“What we are doing I think was only possible in the last five years because of how 3D printing technology changed along the way,” he added. “Before, you had to hand carve a wax ring, and now, we can 3D print up to 300 different rings at the same time within three hours. It drastically increased the production time and allowed us to do custom at scale.”
Before Wove burst on to scene in 2021 as “the only company that does custom replicas”, only wealthy people could get custom rings delivered to their house, but thanks to company’s bold idea, the service is now available to everyday consumer in equal capacity.
Founded during the pandemic in 2021, Wove has already managed to grow its revenue five times thus far, and with the new funds focused entirely on improving the company’s scale and overall growth, this component is only expected to get better and better in the near future.
“Wove is a recession-proof business,” said Wolgemuth. “Even with the pandemic winding down, we still see our business continue to grow, which is really encouraging that our process wasn’t just built for the pandemic world. It was built for couples of this day and age and how they want to shop for engagement rings.”