Zelig – a fashion technology company – has secured US $ 15 million in Series A funding to support the launch of its AI-powered virtual try-on and styling technology (VTO-S).
The funding round was led by an international financial services firm Hilco Global and a global luxury investor Bezikian Zareh, which brings Zelig to a US $ 100 million valuation.
Zelig has said to use the capital to deepen its personalisation capabilities and build out additional features.
“The technology provides a high-quality, virtual try-on experience that allows online consumers to create different looks and see themselves in those outfits as they shop across an e-commerce site,” said Sandy Sholl, CEO of Zelig, adding, “This first-of-its-kind solution gives consumers more confidence in their selections and the ability to make more qualified purchase decisions, which will significantly increase AOV and reduce returns. Zelig also provides brands with valuable data insights they can use to automate personalised marketing that drives customer retention and loyalty.”
Zelig’s patented technology is said to be the first to offer a hyper-personalised online shopping experience that recreates the in-store fitting room experience. The company’s B2B2C technology platform combines AI, machine learning and computer vision to show shoppers high-quality images of how clothes, footwear and accessories would look on their body type.
The shoppers are able to swap out items and change their looks instantaneously through an interactive interface. Users can also save their complete looks and share them with friends.
Zelig users will soon be able to upload a photo and virtually try on and style outfits and individual items using their own image.
The company’s technology will give retailers and brands access to valuable shopper journey data and provide them with a next-level understanding of how their customers combine garments, shoes, bags, sunglasses and other accessories to create complete looks.
Jeffrey B. Hecktman, CEO of Hilco Global, commented, “While many tech companies are building solutions for an industry they don’t know well, Zelig was founded by fashion experts with firsthand knowledge of how to solve the retail industry’s biggest challenges. I’m thrilled to be bringing one of the most promising retail technology solutions I’ve seen to market.”
