Pixibo, a Singapore-based fashion-tech startup, has raised US$1.4 million in a Series A extension round from early-stage VC firm Atlas Ventures, reports TechInAsia, citing sources.
The startup will use the funds to enhance its service and hire for positions across sales and engineering teams.
Pixibo also plans to scale its retail store services by the end of 2021 to South Korea, Indonesia, Australia, and the Philippines, as per the TechInAsia report.
Launched in 2016, the startup aims to help fashion e-tailers reduce their product returns by increasing their conversion rates and average order values through machine learning and data-driven solutions.
Online shoppers face one major plight which is receiving clothes that don’t actually fit them.
What makes the process of finding the right fit even harder is that different brands generally have different sizes for their products. For example, what could be a size EU 32 for someone wearing Nike can be a size EU 28 for the same person wearing Zara.
Also Read: Looking past the pandemic: The future of fashion retail in Southeast Asia
To solve this problem, Pixibo has created “Find Your Fit”, an AI size recommendation solution that gives shoppers personalised real-time size advice for every product.
The way it works is that the Pixibo algorithm asks the shopper for their height, weight, and age, information that the customer has to fill only once. After the input, the algorithm recommends the right fit for the user.
Its solution is being used by fashion marketplaces such as Zalora, FashionValet, MAP and Shinsegae, among others.
The company also told TiA that over 30 online fashion brands have signed up for its ‘Try Before You Buy’ service since launch and that it is on track to add 50 retailers by March 2021 and 100 more retailers by June this year.
Aside from its online service Pixibo also has an offline store called The Pixibo Fit Centre in Somerset Mall, Singapore, which sublets space to online fashion brands so that they can showcase their products.
The company has also expressed plans to launch automated kiosks, with attached fitting rooms so that customers can immediately try on the clothes they bought from online stores and not pay for the product if it doesn’t fit.
In January 2019, Pixibo raised US$1.1 million from Prasetia Dwidharma and EverHaus in a Series A round, according to DealstreetAsia. Before that, it has secured an undisclosed seven-figure funding from Start Today Ventures.
Image Credit: Charles Deluvio
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