Fits.Me Raises 5.5M € For An Aggressive Expansion Across Europe and U.S.

Estonian startup Fits.Me, which has taken on the task to virtualize fitting rooms of major retailers, just closed it’s Series A round of funding by raising € 5.5 million ($ 7.2 million). Although SmartCap has previously invested in this startup, it is now joined by Conor Venture Partners, Fostergate Holdings Ltd and  The Entrepreneurs Fund.

Throughout the past four years since Fits.Me was first launched, it gathered in total more than €8 million in funding which the company used to open offices in London, Munich and Paris. By now, the company is working with names such as Adidas, Avenue32, Barbour By Mail, Boden, Ermenegildo Zegna, Hawes & Curtis, Henri Lloyd, Hugo Boss, John Smedley, L.K.Bennett, Mexx, Nicole Farhi, Otto, Pretty Green, Superdry and Thomas Pink.

Much of this rounds capital will be spent on a rapid expansion through European markets and to “scale up capacity to support its expansion plans” writes TechCrunch. Company is also planning “a major push into markets outside Europe”, primarily United States. Everything should kickstart by the end of the year and American offices are likely to be in New York. After U.S. launch, Fits.Me will be looking into Series B round of funding.

So, How Does It All Works?

Due to a fact that returns are a huge cost sink for e-tailors (more than € 8.6 million is returned globally), Fits.me is one of those startups that is trying to help online retailers by making it easier for buyers to figure out what fits them best, before any cent is spent.

Fits.Me has developed two products to sell to retailers. Its high-end Virtual Fitting Room offers users robot mannequins that can be precisely adjusted to take on all the different body shapes and sizes. For every item more than one thousand pictures are taken, however this is not the most cost-effective method for every retailer as all that data costs  around €120.

Second tool this startup has developed is much simpler photography-free system, called Fit Advisor which also comes at a much lower price. Instead of visualising the clothes on a precisely adjusted robot mannequins, it advises the user which size to buy by “comparing their body measurements to measurements taken directly from the clothes”.

In this case data availability varies from retailer to retailer but in most cases, they can provide the measurements from any brand clothing lines they have in stock.

Do you think that Fits.Me can revolutionize online shopping? Would you use such as service? Leave your answer in the comments section!