Are these three UK start-ups the future of fashion technology?
Wayra and ASOS have revealed names of the early-stage fashtech businesses joining their new London accelerator programme...
Three start-ups – one that allows consumers to crowdfund gifts, one that facilitates smoother parcel delivery, and another that uses artificial intelligence to improve the consumer experience – have been selected to join a first-of-it-kind UK fashion technology (fashtech) accelerator.
Run by online fashion e-tailer ASOS and Wayra UK, the programme’s search for the “world’s most innovative fashtech” start-ups launched in May this year; offering businesses the chance to win direct investment, mentoring and office space at Wayra’s London headquarters.
Aiming to uncover and support start-ups with smart technologies to improve the ASOS experience for its 12 million customers, the three fashtech businesses chosen for the programme are:
- action.ai: Building the world’s first truly smart conversational interfaces.
- Wishround: A social payments and group purchasing engine for e-commerce. It cuts returns by providing an e-gifting platform as part of the checkout process, allowing users to crowdfund expensive gifts.
- Xpreso: A delivery solutions company which has created technology to eliminate the ‘Sorry We Missed You’ card that customers receive when they aren’t home to accept a delivery.
The companies will also receive access to ASOS and Telefónica’s local and global networks and customer bases.
Cliff Cohen, ASOS CIO, said: “Fashion evolves incredibly quickly, as does technology, and we need to be ahead of trends in both sectors in order to best serve our customers and partners.
“These start-ups are each on the cutting-edge of fashion tech, and I hope that as a result of this accelerator programme they will not only disrupt existing processes, but also help ASOS in its mission to get the most exciting products to the consumer, in the most effective way.”