3DLOOK, the global leader in AI-first mobile body measuring and fit solutions, which is headquartered in the US, has announced that the company has raised $6.5 million in Series A funding, led by Almaz Capital with participation from TMT Investments and Zubr Capital. The investment brings the company’s total fundraising to date to $11.2 million.
The new funds will be used to expand 3DLOOK’s US leadership team and establish new R&D labs in the US and Western Europe as the company continues building the fastest and most engaging camera-enabled personalised shopping experiences for consumers and delivering advanced body data analytics to enterprise companies. Tailored Brands and 1822 Denim are among the leading global fashion retailers that are using 3DLOOK’s solutions to drive down apparel returns and increase conversion, according to 3DLOOK.3DLOOK, the global leader in AI-first mobile body measuring and fit solutions, which is headquartered in the US, has announced that the company has raised $6.5 million in Series A funding, led by Almaz Capital with participation from TMT Investments and Zubr Capital. The investment brings the company's total fundraising to date to $11.2 million.#
3DLOOK’s mobile camera-based solutions provide personalized fit and size recommendations for online shoppers and body data intelligence that brands can use to create better-fitting clothes. The technology uses a patented combination of computer vision and 3D statistical modelling to instantly measure the human body using just two photos. Brands that use 3DLOOK’s solutions have seen 30 per cent decreases in return rates, while increasing conversions 4 times year over year, 3DLOOK said in a press release.
“This successful fundraising round will allow us to expand the use of our AI-first technology to drive personalisation across a wide range of industries. While leading fashion and uniform brands are already relying on our solutions to meet their customers’ fit needs, our growth strategy includes extending into other segments to enable personalised, made-to-measure furniture and car seats; better tracking of health and fitness progress in apps; the creation of personal avatars in video games; and real-time virtual try-ons in AR,” Vadim Rogovskiy, co-founder and CEO, 3DLOOK said in a statement.
“We believe that COVID-19 has been the most disruptive event in the last decade to impact retail and that it accelerated the transition to online and made e-commerce a top priority for every brand that strives to survive in the new digital reality. 3DLOOK not only offers an innovative solution that helps online retailers reduce returns and ensure higher client satisfaction, but also enables a unique personalised shopping experience. We’re excited to help 3DLOOK as it expands and meets the growing demand for its solutions,” Pasha Bogdanov, general partner, Almaz Capital said.
As consumers have shifted much of their spending toward e-commerce, 3DLOOK has seen significant recent growth, with revenue increasing by 5.6 times since April 2020. 3DLOOK counts more than 100 customers worldwide, including a uniform industry giant Fechheimer Brothers (a Berkshire Hathaway company) and Safariland, a leader in body armour. Previous investors in 3DLOOK include Boost VC, 500 Startups, ICU Ventures, U Ventures (part of Horizon Capital) and supermodel Natalia Vodianova.
ALCHEMPro News Desk (GK)
marketing@alchempro.com
