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Ukrainian startup on the international market: 3DLOOK raises $6.5M

Ukrainian startup on the international market: 3DLOOK raises $6.5M

23 Mar 2021

Startup Jedi

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The pandemic and the subsequent lockdown have affected, among other things, the way the retail sector operates. Brands, unable to sell offline, have urgently shifted their focus to online retailing. This has stimulated attention to projects that optimize e-commerce.

Thus, Ukrainian startup 3DLOOK raised a $6.5M in Series A financing. Almaz Capital became the lead investor, while TMT Investments and Zubr Capital acted as co-investors. This brings the total amount raised to $11.2M, of which $7.9M was raised during the pandemic.

The 3DLOOK app allows the scanning of the human body from just two photos. Then, using AI, physical parameters are calculated, including the size of clothing. In this regard, the main customers of the B2B-oriented project are clothing manufacturers and retailers. Thanks to proprietary technologies, customers can choose the right size without fitting and self-measurement. The app’s internal analytics also allow brands to adjust their assortments based on audience parameters.

Among the company’s clients are more than 100 brands, including international ones, such as the giants of the uniform market Safariland and Fechheimer Bros, owned by Warren Buffett. “The headache of modern online sales is returning a large percentage of items that don’t fit. 3DLook successfully solves this problem by improving business margins. A great product and a new round of financing will help the team to move forward with confidence and conquer the market,” says Artem Inyutin, co-founder and head of investment at TMT Investments, about the prospects for the development of the project.

Over the past year, ARR 3DLOOK has grown 5.6 times. Customers of the company have reduced their return rate by 30%, while conversions have increased fourfold compared to last year. According to Vadim Rogovsky, general director of the service, the raised investment will help the company expand its activities to other areas that require individual parameters — “from ordering personalized clothing, furniture or car seats to tracking progress in health and fitness apps, creating personal avatars in video games and so on”.

 

23 Mar 2021

 

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