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Owners
3DLook is an application for recognizing the size of clothes by photo. The service is primarily intended for sellers in stores: they take pictures of visitors in order to provide a service of completely contactless determination of the size of clothes. To display the result, the application needs only two pictures. In addition, according to the developers, their product will be useful to retailers and clothing manufacturers. The startup was founded by Ukrainian Vadim Rogovsky.
History
2021
Raising $3.5 million, estimated at $100 million
In December 2021, 3DLook raised another $3.5 million as part of the Series A funding round, following which the Ukrainian startup was valued at $100 million.
According to Forbes Ukraine"," the main investor in the extended round was the European fund Spidertek. Flyer One Ventures, StartupNetwork and a group of American business angels also invested in the project. The received funds service for recognizing clothes by photo will spend on the development of the product in the American market.
 | Fitting is both a barrier in online sales and an inconvenient long process offline. In a cramped fitting room, it's hard to know if a thing is right. Brands will receive feedback on how things sit on their clients and what needs to be changed in future clothing models, - said Ilya Silaev, managing partner of the Spidertek fund. |  |
According to the founder of the 3DLook Vadim Rogovsky, his startup offers a solution that answers two questions at once: what size suits me and how this thing looks on me.
"We are actively preparing for the launch of a completely new product at the beginning of the year, and we will fly into space!," He wrote on his Facebook page.
What share in the startup investors received following the financing round, Rogovsky did not disclose in a conversation with Forbes. He only said that a typical share for Round A by American standards. Startups give 20-25% of the shares, indicate in the recruiting company Hunt Club. Rogovsky calls smaller numbers - 15% -20%.
3DLook, according to the founder, is as close as possible to the set goal - the mark of $100 million. This is not for long: a new round of $15-20 million is scheduled for late 2022 - early 2023.
As part of a new attraction, one of the first investors, Mikhail Merkulov, made a successful exit (exit from capital). He does not name the amount of the investment, it is in the range of $25,000 - $100,000[1]
Raising $6.5 million in investments, including from Almaz Capital and TMT Investments
In mid-March 2021, the 3DLook service attracted $6.5 million in investments. The Series A funding round was led by Almaz Capital. TMT Investments and Zubr Capital also took part in the deal. The total volume of investments in the Ukrainian service for recognizing the size of clothes by photos reached $11.2 million. The estimated value of the startup, as well as the shares of investors, were not disclosed.
The new funds received from investors in 3DLook intends to use to expand the management team in the United States and create new research laboratories in the same country, as well as Western Europe.
According to Vadim Rogovsky, co-founder and CEO of 3DLook, the new investments bring the company closer to fulfilling its big goal - "to become an industry standard in everything that requires personalization based on the human body."
| | Now our solutions meet the growing demand in the fashion and uniform sectors, but we plan to provide a unique personalized experience in a range of areas 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, he stated. | |
By mid-March 2021, 3DLook customers include more than 100 brands around the world, including Tailored Brands, 1822 Denim, as well as uniform market giants Safariland and Fechheimer Bros (Warren Buffett's company).
According to the 3DLook, from April 2020 to March 2021, the regular annual revenue (ARR) of the startup grew 5.6 times. Customers were able to reduce the return of things by 30%, and conversions increased 4 times on an annualized basis. The startup was voted the winner of the 2019 LVMH Innovation Award and the IEEE Retail Digital Transformation Grand Challenge.[2]
2020
Attracting investment from OKS Group
On December 9, 2020, it became known about the investments of OKS Group in 3DLOOK. The startup held a pre-A round in the amount of $1.5 million, of which $400 thousand was invested by a Russian company. In addition to the OKS Group, ICU Ventures, uVentures, Solid5, 500 Startups, Boost VC and supermodel Natalya Vodianova invested in the project.
The Ukrainian service for recognizing the size of clothes by photo intends to spend the attracted investments on expanding the development team and supporting a rapidly growing customer base.
According to the Crunchbase portal, which collects information on venture capital investments, 3DLOOK raised $4.7 million. OKS Group is listed among the investors. startup
It is noted that 3DLOOK 's business began to develop rapidly with the onset of the COVID-19 coronavirus pandemic. In 2020, the company signed several partnership contracts that will allow it to promote its developments outside Ukraine.
3DLOOK collaborating with overseas clothing stores, supplying them with white-labeled technology, which allows consultants in stores to take pictures of customers in order to further provide them with a contactless sizing service. This service became especially in demand during the pandemic, since fitting rooms were closed in many retail stores.[3]
Raising $1 million in investments
In July 2020, it became known about the attraction of $1 million by 3DLook. The financial group ICU Ventures invested the most in the startup. Murat Abdrakhmanov, a venture capital investor from Kazakhstan, who had previously announced his intentions to invest $2 million in Ukrainian startups, as well as several other angels from the United States and Eastern Europe, also took part in the financing round.
In a conversation with Forbes, 3DLook founder Vadim Rogovsky said that in the context of the COVID-19 coronavirus pandemic, the popularity of the 3DLook application began to grow even faster. The company managed to conclude a number of contracts with multi-billion companies in the field of uniform production, as well as with online retail from the USA and Western Europe. Some contracts are in the signing phase.
| | For example, in June we launched with a public retailer from the United States, first in 200 stores, then it is planned to launch in all 1000 + stores within a month, - said Rogovsky. | |
He noted that the funds received will help the startup make a profit faster. The investment deal will also allow hiring more specialists in Ukraine and the United States. In an interview with Forbes, the founder said the company is looking for employees in the New York office.
| | Specialists are needed in order to integrate more quickly and launch with all corporate clients who came to us during COVID-19, he added.[4] | |
Notes
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