$6.5 million raised by the Ukrainian startup 3DLook
The capital invested in 3DLook comes from the international investment funds Almaz Capital, TMT Investments and Zubr Capital. The Odessa company will use the funds to hire new staff and open research and development centers in Europe and the United States, according to its co-founder Vadim Rogovskiy.
3DLook created a mobile app that takes body measurements online by scanning photos of a person. This service is very useful for people who shop clothes online. Users can measure their bodies with their smartphone.
To do that, 3DLook analyses two life-size photos of a person using the technology called computer vision also adopted by Snapchat, Apple and Facebook. The app estimates the arm and leg lengths, waistline and hip size of a person, helping сustomers find the right size of clothing online.
The retailers that use the app benefit too, because their customers return clothes less often, while the data about their bodies helps businesses design better clothes, said Rogovskiy.
Nearly 100 global retailers are already using 3DLook. Among them are U.S. Denim 1822 that sells jeans, Fechheimer Brothers that sells uniforms, Red Thread that sells clothing for women and Tailored Brands that sell men’s apparel.
Tailored Brands said that, during the pandemic, it is safer to measure bodies for clothing sizes with an app on an iPad rather than ask customers to come to the store.
We rolled out 3DLook’s solution in 100 stores and quickly expanded as we saw great success and positive feedback.Chaitanya Pallapothula, senior vice president at Tailored Brands
Due to the social distance policies, the demand for 3DLook’s app skyrocketed during the pandemic. Company’s revenue increased by 5.6 times since April, reaching $1 million in 2020.
The reason why the company has become so popular is that it offers a simple tech that is not “burdensome for clients to use,” according to Pasha Bogdanov, general partner of Almaz Capital.
In addition of the recent $6.5 investment, the company previously attracted money from big-name investors like Boost VC, 500 Startups, ICU Ventures, U Ventures (part of Horizon Capital) and the model-entrepreneur Natalia Vodianova.
Overall, the company has raised $11.2 million in investment. Rogovskiy estimates that today his business is worth $50-70 million. 3DLook employs 80 people, most of them work in Kyiv and Odessa, and the company is still hiring.
Among his future projects, Rogovskiy dreams to offer his customers the ability to try on clothes online, using the augmented reality technology. Moreover, 3DLook can implement its technology in other industries too. For example, to make customised seats for car manufacturer, to show how the human body changes after the workout or to create personal avatars for video games.