3DLOOK Secures $6.5 Million Series A Funding To Expand Leadership and Establish R&D Labs
3DLOOK is an AI-first company that develops software and apps for body measurement, fit, and retail clothing personalization. Since 2016, the company is working in the field of retail experience of both brands and customers. After every market shifted to a digital platform last year, 3DLOOK has been providing virtual solutions to clothing companies. At the start of Q4 last year, 3DLOOK had released Body Shape Analytics after profiling over 100,000 unique customers. The patented Body Shape Analytics forms 3D models from the data obtained from front and side profile photos of a customer. The analytics helped companies deal with poor-fitted clothes, and gave a new way of maintaining a good customer relationship. More than 100 companies around the world use personalization services by 3DLOOK. According to a survey conducted by the company, the conversion rates of brands have increased by 4 times YoY.
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Quite recently, 3DLOOK announced Series A funding to expand their company horizons. The funding witnessed the participation from Almaz Capital, TMT Investments, and Zubr Capital. 3DLOOK raised $6.5 million, taking its total fundraising count to $11.2 million. The company looks forward to magnifying its ongoing research by expanding across the US and Europe and establish new R&D laboratories. Eventually, the company wants to introduce virtual dressing, augmented fashion shows, and 3D body models.
Besides the clothing industry, the company envisions expansion to other virtual platforms too. Vadim Rogovskiy, Co-Founder and CEO of 3DLOOK, says, “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 personalized, 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-on in AR.”
Artyom Inyutin, Co-founder & Head of Investments of TMT Investments, acknowledged a major issue in today’s online clothing market while supporting 3DLOOK in the funding. Consumers returned a lot of goods bought on E-Commerce websites, all because of poor fitting of the clothes. 3DLOOK has solved this issue for brands in offline stores as well. Since April 2020, 3DLOOK’s revenues increased by 5.6 times. Pasha Bogdanov, General Partner of Almaz Capital, trusts 3DLOOK with its never-before tailored services that would enhance client satisfaction and personalize the shopping experience.