FlixStock India Pvt. Ltd., an AI-based fashion image technology start-up, has raised a funding of US $ 2.5 million (approx Rs. 18.10 crore at current exchange rate) led by Wavemaker Partners – an early-stage venture capital firm based in Los Angeles and Singapore.
Seeds Capital of Singpore and India-focused Leo Capital too were a part of the funding.
The funding will be, reportedly, utilised for the construction of a new AI research centre in Singapore and also to increase FlixStock’s presence in US.
The start-up founded by Harindar Keer, an alumini of IIT Kanpur & University of California, uses AI to solve the problem of fashion image creation and usage in online retail.
The solution based on deep learning algorithm is capable of generating website-ready model images within fraction of seconds and without the need of any photoshoot.
Harinder added “With FlixStock, we offer a suite of solutions to help retailers create images in large scale, at a fraction of the existing costs.”