SAN MATEO, Calif. - July 17, 2018 - (Newswire.com)
3DLOOK, the pioneer of mobile body scanning technology for the $3T global apparel industry, has just closed on a $1M seed investment round from uVentures (part of the global VC fund Horizon Capital), 500 Startups, and several angels. A list of previous investors includes Boost VC, the Silicon Valley-based accelerator that focuses on AI/VR/AR and blockchain startups. This brings total investments to $1.4M. This new runway will allow 3DLOOK to continue to build out its world-class engineering team and pursue its goal to transform the apparel industry’s growing problems around fit, sizing and returns.
Founded in 2016, 3DLOOK has built two products to revolutionize the online shopping experience. Their proprietary technology uses advanced computer vision algorithms, complex 3D geometry, and neural networks to measure the human body from just two photos taken on any mobile device.
Released in June 2017 as a beta, 3DLOOK’s first B2B product SAIA (Scanning Artificial Intelligence for Apparel) has already been tested by some of the largest global brands and retailers in the world. A recent collaboration with Koviem, the New York startup intent on disrupting the traditional bespoke model by infusing tech, has shown a 20 percent increase in revenue using 3DLOOK’s technology. The company reports that 30 percent of their customers have used the technology since launch. 3DLOOK has placed as much value on the UX as one of the core technologies and is obsessed with creating a frictionless front-end and back-end experience for their customers.
SAIA’s API for websites and SDK for mobile apps process consumer’s body measurements using two photos (including selfies) taken on any smartphone in any setting wearing casual clothes. The white-labeled widget sits behind a product page on an e-commerce website or a mobile app and prompts consumers to upload two photos of themselves. SAIA’s computer vision and deep learning algorithms generate fit recommendations from the data it captures from the two photos and the data of the garment it collects from the brand or retailer. SAIA will be released out of beta this fall under the name SAIA Perfect Fit.
This new investment will accelerate the release of 3DLOOK’s second product, SAIA 3D, which captures up to 29 body measurements and generates accurate 3D body models. SAIA 3D aims to transform the logic behind the design and product development process by generating powerful data for retailers and brands of their actual customer’s body size and shape. This data will increase speed and efficiency around product creation and 3DLOOK anticipates that SAIA 3D will eventually help to create entirely new measurement and grading standards. 3DLOOK is also positioning SAIA 3D to help eliminate the time and expense needed to manually measure customers for the growing made to measure industry.
Currently, SAIA 3D is fully compatible with 3D product development solutions and provides the consumer model needed for customized virtual dressing. In a recent partnership with CLO, the cutting-edge 3D garment simulation company, 3DLOOK is testing a consumer-facing virtual try-on solution with two major global retailers.
Additionally, the investment advances the team’s augmented reality (AR) roadmap which will allow consumers to play with and dress their custom avatars in AR anywhere and anytime.
In a comment regarding the seed round, Enis Hulli, Venture Partner at 500 Startups quotes, “Return rates are the ticking time bomb of e-commerce and those numbers escalate each year as online shopping numbers take a greater share of total retail. In certain product categories, return rates are as high as 60-70 percent. Younger demographics are using their bedrooms as dressing rooms. The fit is a big, big problem and 3DLOOK's products are very timely. We are thrilled to provide a boost to their ambitious growth strategy.”
“Our mission is to help brands and retailers advance archaic fit, sizing, and grading rules by providing them with the technology to capture body size and shape data about their customers. We want to set new standards for the online shopping experience by showing brands and retailers what their customers actually look like so they can put them first when it comes to the product lifecycle,” says Vadim Rogovskiy, the co-founder and CEO of 3DLOOK. “This new funding round gives us the opportunity to expedite our aggressive technology and product roadmap and continue to hire the best experts in the fields of computer vision, deep learning and 3D. The apparel industry is finally embracing the importance of 3D to the entire product lifecycle. 3DLOOK will be the standard for mobile body capture. We’re ready to change the world.”
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3DLOOK is a Silicon Valley-based technology company with two R&D centers in Ukraine and an office in the UK. Their proprietary technology has been built by a world-class team of 20 engineers including several Ph.D.’s and advanced experts in the fields of computer vision, 3D, neural networks, mobile technology, product management, and manufacturing and retail. The company’s mission is to transform the way people interact with their smartphone to solve everyday problems.
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Original Source: Mobile Body Scanning Startup 3DLOOK Closes $1M Seed Round
