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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 photograph visitors in order to provide a service for completely contactless determination of the size of clothes. To output the result, the application needs only two snapshots. 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 expanded round was the European fund Spidertek. Flyer One Ventures, Startup Network and a group of American business angels also invested in the project. The received funds, the service for recognizing clothes from photography, will spend on the development of the product in the American market.
 | Fitting is both a barrier to online sales and an uncomfortable long process offline. In close fitting, it is difficult to understand whether the thing is suitable. Brands will receive feedback on how things sit on their customers and what needs to be changed in future clothing models, "said Ilya Silaev, managing partner of the Spidertek Foundation. |  |
According to the founder of 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 to launch an absolutely 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 results of the round of financing, Rogovsky did not disclose in a conversation with Forbes. He only said that the typical share for round A by American standards. Startups give away 20-25% of the shares, indicate in the recruiting company Hunt Club. Rogovsky calls smaller numbers - 15% -20%.
3DLook, according to the funder, came as close as possible to the goal set - the mark of $100 million. This is not for long: a new round of $15-20 million is planned already at the end of 2022 - the beginning of 2023.
As part of the 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 from photographs reached $11.2 million. The estimated value of the startup, as well as the shares of investors, are not disclosed.
The new funds received from investors in 3DLook intends to use to expand the team of managers 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 investment brings the company closer to meeting the big goal of "becoming 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 various areas: from ordering personalized clothes, furniture or car seats to tracking progress in health and fitness applications, creating personal avatars in video games and so on, he said. | |
By mid-March 2021, 3DLook's customers include more than 100 brands around the world, including Tailored Brands, 1822 Denim, as well as uniform giants Safariland and Fechheimer Bros ( Warren Buffett).
According to 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 by 4 times in annual terms. The startup was recognized as the winner of the LVMH Innovation Award 2019 and the Grand Challenge IEEE Retail Digital Transformation Grand Challenge.[2]
2020
Attracting investments from OKS Group
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 a Russian company invested $400 thousand. In addition to the OKS Group, ICU Ventures, uVentures, Solid5, 500 Startups, Boost VC and supermodel Natalya Vodyanova invested in the project.
The Ukrainian service for recognizing the size of clothes by photography intends to spend the attracted investments on expanding the development team and supporting the fast-growing customer base.
According to Crunchbase, which collects information about venture capital investments, 3DLOOK raised $4.7 million. OKS Group is listed among the startup investors.
It is noted that the 3DLOOK business began to develop rapidly with the onset of the coronavirus pandemic. In COVID-19 2020, the company signed several partnership contracts that will allow it to promote its developments outside. Ukraine
3DLOOK collaborates with overseas clothing stores by supplying them with white-labeled technology, which allows in-store consultants to take pictures of customers in order to further provide them with a contactless clothing sizing service. This service became especially popular during the pandemic, since admixture stores were closed in many retail stores.[3]
Attracting $1 million of investments
In July 2020, it became known about raising $1 million by 3DLook. Most of all, the financial group ICU Ventures invested in the startup. Also, 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, took part in the financing round.
In a conversation with Forbes, 3DLook founder Vadim Rogovsky said that in the conditions 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-dollar companies in the uniform industry, 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 company from the United States first in 200 stores, then it is planned to launch in all 1000 + stores within a month, "Rogovsky said. | |
He noted that the funds received will help the startup get a profit faster. The investment deal will also allow hiring more specialists in Ukraine and the United States. In an interview for Forbes, the founder said the company is looking for employees at the New York office.
| | Specialists are needed in order to integrate and launch more quickly with all corporate customers who came to us during COVID-19, "he added.[4] | |
Notes
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