Fits.me, the Estonian “biorobotics virtual fitting room” startup for e-commerce clothing retailers and shoppers, has been around for a while. We first covered them in 2010 when they secured €1.3 million, taking their total cash to €2.6 million. They’ve now taken another €1.5 million, taking their funding to €4.1 million.
Fits.me lets customers “try on” clothing before buying from online clothes retailers. They can see how different sized bodies fit the the clothes on sale – like in real-world fitting rooms. One barrier to fashion e-commerce growth is ensuring that customers can accurately select their body size and shape. The Fits.me robotic body does it for them.
The startup has now closed round of financing led by Entrepreneurs Fund and moving its new corporate headquarters from Estonia to London. Engineering, operations and production will remain in Tallinn and Tartu, Estonia.
Fits.me is so far used by Ermenegildo Zegna and Thomas Pink (part of LVMH Group).
CNBC Business chose Fits.me among the Top 20 breakout brands for 2011, and more recently Vogue included Fits.me among the Online Fashion 100 – the list of the Top 100 most influential names in fashion ecommerce in 2012.
Entrepreneurs Fund is a London-based venture capital fund with €100 million under management.
Strata Partners, the London-based investment bank providing capital raising and M&A advice to technology businesses, acted as financial advisers.
Heikki Haldre, co-founder & CEO, told me: “Real customer satisfaction in clothing retail happens when the clothes fit both the body and the customer’s sense of style. We strengthen their business by increasing sales and reducing returns.”