3DLOOK, a mobile body scanning technology startup, has closed on a $1 million investment round from uVentures, 500 Startups and several angel investors. The company’s goal are to assist the apparel industry in solving problems around fit, sizing and returns.
The solution provider’s proprietary technology can measure the human body from just two photos taken on any mobile device, using a combination of advanced computer vision algorithms, complex 3D geometry and neural networks. The software will be released out of beta in the fall under the name SAIA Perfect Fit.
The technology has already been used by Koviem, a custom women’s suit startup, which has reported a 20% increase in revenue from using the 3DLOOK solution. Approximately 30% of the retailer’s customers have used the software since it was launched.
The new investment in 3DLOOK will accelerate the release of SAIA 3D, which captures up to 29 body measurements and generates accurate 3D body models. 3DLOOK is currently testing a consumer-facing virtual try-on solution with two global retailers.
Return rates can be very high for e-Commerce retailers: at least 30% of all products ordered online are returned, compared to 8.89% of products purchased at brick-and-mortar stores, according to Invesp. Fashion retailers in particular are looking for ways to minimize returns, with Amazon adopting a try before you buy model, and Stitch Fix basing its entire business model around personalization.
"Return rates are the ticking time bomb of e-Commerce and those numbers escalate each year as online shopping numbers take a greater share of total retail,” said Enis Hulli, Venture Partner at 500 Startups in a statement. “In certain product categories, return rates are as high as 60% to 70%. Younger demographics are using their bedrooms as dressing rooms. The fit is a big, big problem and 3DLOOK's products are very timely."