Retail tech start-up Metail bags £10m in Series B funding round
The virtual fitting room provider will use the fresh injection of cash to help scale its international operations
Metail, a retail tech start-up that allows users to virtually try on clothes before buying them, has raised $10m in a Series B funding round.
Led by Hong Kong retail giant TAL, who are reported to manufacture one in six men’s dress shirts in the USA, this latest injection of cash is the second time it has backed the London-based start-up.
In October 2014, TAL invested $12m into Metail – who will use its latest raise to help scale its international operations.
Founded by Tom Adeyoola in 2008, Metail specialises in 3D visualisation technology which allows clothes shoppers to upload a photo and input a few measurements such as height, weight, and bra size, in order to create a 3D model of themselves – a ‘MeModel’ – which they can use to try clothes on online.
With an existing 7.7 million customers worldwide, Metail has digitised 80,000 garments since inception and has nine patents granted and 22 pending.
For the coming months, it is looking to concentrate its efforts on the European and Asian markets where its competitors includes the like of Fit.me.
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“These funds set us in great stead for our mission to become the Google of size and shape.
“The Asian focus on innovation in the fashion supply chain has meant that TAL has looked to Metail to provide breakthrough technology for garment digitization and data collection.
“I’m incredibly excited about Metail’s next stage of growth.”
Delman Lee, president and CTO of TAL, said:
“We are delighted to lead the investment in Metail, and believe in their vision to disrupt the whole fashion supply chain.
“Metail has some of the most advanced technology in this area, and their unique dataset leads to a number of transformative applications for the whole garment supply chain, ultimately leading to clothes that fit the customer better.”
Caroline Rush, CEO of the British Fashion Council, said:
“It’s excellent to see such a major investment in a British fashion technology company. Metail’s technological approach to solving the sizing dilemma faced by retailers and customers alike is changing the traditional face of the fashion industry.
“The investment in Metail is yet another example of Britain’s long-standing excellence in fashion receiving global attention.”