Vestico, a London, UK-based fashion tech startup that uses AI to help online shoppers find the perfect sizes and shades while buying a product, secured £250,000 in funding.
The investment came from the early-stage-focused London-based venture capital firm Jenson Funding Partners.
The funds will be used to develop its technology further and transform the next generation of e-commerce. The company has already partnered with the Spanish fashion label Desigual, and it plans to expand its service to include more international brands over the next year.
Maia Sasania, co-founder and CEO at Vestico, said: “Vestico was created to give shoppers confidence and inspiration to buy items they will keep. Our mission is to represent every single shopper in their favorite brand’s stores and equip them with critical information to prevent returns. Our driver is our knowledge that five years from now we will fundamentally transform the way people shop online. This investment will help us continue to grow our team and develop our platform to scale and service the largest brands on the planet.”
Vestico for Beauty was launched earlier this year to help the industry be more representative of its customers and ensure customers find the right shade when purchasing beauty products online.
Company: Vestico Ltd.
Funding Month: November 2022
Lead Investors: Jenson Funding Partners
Company Website: https://vestico.co/
Software Category: AI e-Commerce Personalization and Social Fit
About the Company: Founded in 2020 by Benedikt Hirmer, Maia Sasania, and Maddie Forman, Vestico is a fashion tech platform that helps retailers better serve & understand their shoppers. The company's platform integrates into the organization's online platform and allows shoppers to see how someone with their body type looks in what they want to buy, helping organizations reduce the return of the products and helping customers get the right fit. Vestico uses UGC and AI to show shoppers how products look on people like them, alongside comprehensive insight. Through hyper-personalization, Vestico gives shoppers the confidence to buy more and return less while gathering critical data to inform retailers on the whole value chain, from marketing to manufacturing.