Veesual, a Paris-based virtual try-on platform for the fashion industry that transforms how online shoppers experience digital retail, announced the closing of a $7.5 million seed round led by AXA Venture Partners (AVP) and Techstars.
This funding round will advance the company’s plans to expand into the US market by opening its first US-based office, recruiting senior US talent, and enhancing its current product offering for US apparel companies and beyond.
A component of Veesual’s US expansion is a new partnership with leading women’s fashion brand EILEEN FISHER. Under the terms of the partnership, Veesual’s augmented shopping experiences powered by next-generation virtual try-on technology have been integrated into the EILEEN FISHER online shopping experience.
Launched in 2020, Veesual is on a mission to transform the online shopping experience for all customers, independent of style, fit, and fashion preferences. And with augmented shopping solutions Mix&Match, Switch Model, and Look Inspiration, Veesual’s 2D-based Image Generation Engine (IGT) was built specifically for fashion brands to deliver high-quality imagery at scale and to adapt several pieces of clothing on any model, with natural renderings and precise fitting.
Veesual works with leading brands and retailers in Europe, including premium (Claudie Pierlot), kids’ fashion (Sergent Major and DPAM), and popular fashion (Le Redoute and Gemo).
As brands work to reflect diversity for e-commerce shoppers by featuring models of different ethnicities, ages, and body types, it can be very costly to shoot individual products on various models. Veesual’s Switch Model experience allows customers to choose a model they identify with while simultaneously accelerating online sales and reducing brand returns.
KEY QUOTES:
“We are thrilled to be the first US brand to partner with Veesual on this innovative new virtual try-on tool. EILEEN FISHER is committed to inclusivity, designing clothes that cater to every body shape. Navigating online shopping poses challenges, particularly in predicting how garments fit diverse body types. Our collaboration with Veesual addresses these challenges head-on and we are proud to be launching a tool that is sure to be a new standard for e-commerce.”
- Blair Silverman, Vice President of E-commerce at EILEEN FISHER
“We are proud to invest in Veesual, in order to accelerate its commercial roll-out and pursue its technological developments, as well as its international expansion. We believe in Maxime and his team’s vision. They have demonstrated a strong ability to execute and understand market challenges by offering fashion brands solutions to optimize their customer experience. With a presence on both sides of the Atlantic, AVP’s teams will be able to support Veesual in the next stages of its development.”
- François Robinet, Managing Partner of AVP
“The global fashion ecosystem is undergoing a seismic shift right now. The industry is increasingly focused on sustainable production, a better, more relevant buying experience, and upcycling as a new standard. At Veesual, we’re meeting those changes by drastically improving how shoppers buy online which creates a more inclusive retail experience while also improving fit and reducing waste. This fundraise is critical for our plans as we scale in the United States with brands who are pioneering the augmented shopping experience. We anticipate significant growth in 2024 and beyond.”
- Veesual Co-Founder and CEO, Maxime Patte
