I guess from the stone-age, we humans like to look good, and clothes are an eternal part for our attire. For quite some time, online shopping is getting very popular, and is basically a requirement for us due to our busy schedule. Now, as this industry is growing at a very fast rate, they need to adopt some new technologies to be in the game for long run.
For this, we have here now 8 awesome tech startups, bringing big data analytic, facial recognition and 3D technologies together with retailers to help you shop and dress better.
Best Fashion Techs Startups UK
The tag-line of Farfetch is ‘300 Boutiques, 1 Address’…you read correctly fellas, farfetch provides a platform to around 300 well-renowned, independent Boutiques on a single online destination from around the world. It means you can order from anywhere around the world from a boutique pretty far from your homeland.
According to Silicon Valley and Business of Fashion’s Editor-in-chief Imran Amed, Farfetch is now officially a ‘unicorn’, valued approximately I Billion or more.
According to market reports, the company, which has yet to cross over into profitability, is estimated to drive about $350 million in gross merchandise volume (GMV) with about $90 million in resulting revenue from commissions (the company is said to take a 25 percent commission from its partners).
Also, Multimedia publisher Condé Nast International has led a $20 million (£13m) investment in Farfetch, an e-commerce marketplace for independent fashion boutiques.
Hmmm…Can you imagine trying out an outfit while you are sitting comfortably at your home? That’s right people, Fits.me actually provides a virtual changing room. What it actually does…it provides a 3D model to shoppers, where they can try their clothes and can choose without any tension about the fit, length, stuff type, color etc.
This also helps retailers to send recommendations to their customers, not just based on their previous search..but also on the basis of their body type, complexion etc.
Fits.me has acquired £9.2m in funding so far, and has been taken-over by a Japanese E-commerce company, Rakuten. Rakten plans to run Fit.me as a standalone company, where it will continue to develop its technology.
“Fits.me represents both the fun and functionality of shopping online and is a natural complement to our growing portfolio of e-commerce and marketing services,” said Rakuten’s CEO and founder Hiroshi Mikitani in a statement.
The next in our list is Lyst, which is an E-Commerce platform which offers a variety of fashion brands and retailers, allowing shoppers to use a single online shopping basket. They don’t have to search individual websites of various retailers. All the latest stock from various retailers is available on this single platform.
Fashion ecommerce platform Lyst has raised $40 million (£27 million) in a Series C funding round to expand its US and London operations.
Wearable Technology is in trend these days, like fitness trackers, smartwatches etc. Vinaya is a UK-based startup which came into existence in mid 2013. Recently, Vinaya has launched a collection of wearable technology ‘ALTRUIS‘, which according to company is a solution to Hyper-connectivity. Altruis range that connects with your devices to push custom notifications via subtle vibrations to a ring, necklace or bracelet.
Investors in the startup include some familiar names, with Passion Capital’s Eileen Burbidge leading the round. Others putting in funding include former Index partner Robin Klein, Carmen Busquets, Playfair Capital, Michael Birch and several others. Eileen Burbidge of Passion Capital led on Vinaya’s seed funding round of $3m (£2.1m) in November 2015.
Thread offers a free online personal styling service for men, employing a combination of human stylists and algorithms. Today, more than 200,000 men in the UK use the service.
The startup was co-founded in 2012 by entrepreneurs Kieran O’Neill, Ben Phillips and Ben Kucsan.
London-based fashion tech startup Thread has secured $8 million in a Series A round of funding led by Balderton Capital, the co-founders of Google-owned DeepMind and a number of other angel investors from the fashion and tech worlds. It was basically developed to help men dress better, but it is available and helpful for both men and women.
There is a wave of new technology where you have humans and machines working together to do things far better than either could do alone, said co-founder and CEO Kieran O’Neill.
Thread has raised $8 Million to Scale Personal Styling Service.
‘A personal stylist for every shopper’…..really fellow readers! While starting up on thread, first they ask for your preference like what type of shirt or trouser you wear, your budget, the size you wear, your favorite brand and about any outfit you like. Then, you are assigned a personal stylist! The assigned stylist then reviews your preferences, and send you an Email with recommendations.
There is always a time in life, when we like some other person’s attire, and we desperately wants to ask that person, where did you get that? And sometimes you ask, but it would be weird to ask a total stranger..I guess. So, don’t worry! All you need to do is just take a quick snap of that item and then try to find using Snap Fashion to identify any similar items from 1000s of UK retailers. Then you can make your purchases of the product you like.
Snap Fashion claims to be different because it also does ‘shape matching’ and is more cross-platform than competitors.
Jenny Grifiths, the founder of Snap Fashion received an MBE in the Queen’s Birthday Honours list last year before she even turned 30 and she had developed this startup when she was just 27.
Pocket High Street
Until now, we have talked about availability different brands and famous stylist at one platform, but this one is different. Pocket High Street was actually invented to support small-scale retailers, who have a fresh talent but the thing they are missing was a proper platform where they can target huge number of clients. This startup was a like a breath of fresh air for small retailers, they can show their stock to a larger customers from around the world.
Pocket High Street has raised an undisclosed amount during a seed funding round so far.
Holition is an award winning digital creative studio specialising in emerging technologies crafting premium 3D digital experiences for a growing network of pioneering digital luxury organisations. The CEO of Holition is Jonathan Chippindale.
Holition involves in designing and developing virtual try-ons for clothing, shoes and cosmetics to large scale Holograms and projecting Mapping. This startup’s new groundbreaking Face tracking technology allows cosmetics brands to show how their products look on shoppers without applying any product. Using 3D technology a smartphone or tablet can act as a virtual mirror.
Their clients include Richemont, LVMH, Swatch Group and Kering Group across the emerging digital fashion and retail sectors. Holition’s international deployments have been installed at premium retail stores including Selfridges, Harrods, Dover Street Market in London, Isetan in Tokyo, and Bloomingdales in New York.