Aether raises $18 million
Aether Diamonds, creators of the world’s first diamonds made from atmospheric carbon, announced the completion of an $18 million Series A funding round. Investors include Helena, TRIREC, SOUNDWaves (the sustainability-focused investment vehicle from Sound Ventures, founded by Ashton Kutcher and Guy Oseary), Khosla Ventures, and Social Impact Capital.
Founded in 2018, the NY-based startup offers lab-grown diamonds that are made from carbon and are just as “real” as mined diamonds. Aether developed a “proprietary process” to use CO2 which has been removed from the atmosphere and it gets the carbon from carbon capture company Climeworks.
Aether began shipping its products to consumers in mid-2021 and diamond rings range from a couple of thousands to over $26k. The startup has a partnership with Jewelers Mutual to help protect customers’ Aether Diamonds purchase.
“Aether’s Series A will allow us to scale our carbon utilization technology and enact real and meaningful change in the market. Aether has been fortunate to remain selective about whom we bring on as investors and Helena is a perfect match. Our values are deeply aligned. We are thrilled to be working together towards a shared vision for the future.” – Ryan Shearman, co-founder and CEO of Aether.
“Fundamental to Helena’s climate goals is getting carbon capture to truly global scale. This can only happen if we move beyond underground sequestration and create viable commercial use cases for captured carbon. Aether has done this by creating an entirely new category of diamond using direct air carbon capture technology. Beyond supporting an industry critical to the climate crisis while simultaneously addressing multiple problems in the diamond space, Aether has forged an astounding product that stands alone. We are proud to share in such a monumental achievement and bring this more sustainable solution to consumers around the world.” – Henry Elkus, founder and CEO of Helena.