Pixibo raises US$1.4M Series A funding
Singapore: 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.
To solve this problem, Pixibo has created “Find Your Fit”, an AI size recommendation solution that gives shoppers personalized real-time size advice for every product.
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.
