· FashionTech startup presize helps online shops solve their multi-billion EUR return problem, by recommending users a perfect fit based on a smartphone video of their body. The patent-pending approach to extract body measurements and recommend sizes combines the latest breakthroughs in Computer Vision and Deep Learning.
· The 6-figure pre-seed round was led by Plug and Play, a Silicon Valley-based VC and early investor in Google, Paypal, Dropbox and N26. Business Angels with C-level experience in the software and fashion space are co-investing.
· The company was founded in 2019 by three CDTM alumni from three different countries, each with previous founding and industry experience and a strong track record in academia (TUM, Stanford, Cambridge, UCSD).
Every second online fashion shop order is returned by the consumer, causing customers to waste valuable time, the environment to suffer and web shops’ margins to shrink. 75% of the returns are due to the wrong size or poor fit. The large scale of the sizing problem stems from differing sizing standards across brands and the refusal of users to use sizing charts (since they don’t know their true measurements).
When visiting a web shop with presize integrated, users can click on the “video scan” button if they are unsure whether to choose M or L, for example. Then a mobile web app opens in a separate browser tab and gives the scanning instructions. Users place their smartphone on the floor leaning against the wall, and simply turn around once while recording a video. Afterwards, users enter their gender, height and fit preference (e.g. slim fit) and return to the web shop — from then on, they will receive a perfect size recommendation for every product in the shop.
· Users don’t need to undress (normal clothing like jeans and a t-shirt is fine)
· No download is necessary — presize works in the browser
· GDPR-compliant (videos are anonymized and deleted after measurement extraction)
· No special hardware (except a smartphone) needed
· Users get a presize ID, which means they can scan once and receive size recommendations forever
Benefits for web shops:
· Return reduction: accurate size recommendations lead to better fit
· Conversion increase: fun and easy to use user experience, which eliminates the question “Will it fit?”
· Easy integration: Shops just need to copy and paste a code snippet — presize takes care of the product data integration
· Personalization: With presize, you can display the perfect products to the users based on their body shape and size
The investment will be used to grow the product team and build upon the existing MVP. After the first successful pilot projects in May, the next step is to launch the product and integrate with larger-scale customers.
The round is led by Plug & Play, a leading VC from the Silicon Valley (Google, PayPal, Dropbox, N26). Multiple business angels are co-investing and bringing decades of c-level experience in the software and fashion domains to the table.
presize aims to revolutionize the way people shop for clothing online by recommending the perfect fit for the users’ individual body. The technology enables anyone to get the perfect fit without trying — from the comfort of their home.
SOURCE and Image: https://medium.com/presize-ai
Image: presize founding team