London-based AI fashion stylist Intelistyle raises over €500K in seed funding
Intelistyle offers a complete styling experience – clothes and outfits are tailored not only to different occasions and weather, but also to the user’s style, body type, colours and the latest fashion trends. Retailers benefit from an increase in average order value and conversion, while engaging with users across channels with an efficient and personal way to buy fashion.
Since launching the company in December 2017, Intelistyle co-founders Kostas Koukoravas and Michael Michelis have been using their experience in machine learning, big data and consumer products to address the growing fashion e-commerce market, worth $481 billion in 2018 and expected to rise to $713 billion by 2022.
Founder Kostas Koukoravas explained: “What sets us apart is that our AI works with user generated photography, constantly learns from the latest trends and then tailors recommendations to each user’s body type, colours and personal style, offering a personalized omnichannel experience; with the user’s own clothes or new. The quality of our recommendations currently outperforms the results of published academic research in the space of outfit generation. We can second guess the choices of a human stylist with impressive accuracy. We’re excited to work with Metavallon VC to develop our technology and expand our service globally.”
The seed funding will be used to establish Intelistyle as the premier solution for smart fashion styling, to grow faster in US and European markets, and to develop their technology further through at their development centres in London and Athens.
Yorgos Mousmoulas, Partner at Metavallon VC said: “Personalization is seen as key to success by 94% of retailers and we see Intelistyle as a leader in offering a personal and inspirational shopping experience. We’re only at the beginning of the artificial intelligence era, a technology set to change industries and create transformational impact on business and society. We anticipate increased implementation of A.I. in the foreseeable future as companies already invest tens of billions of dollars globally in AI and ML technologies seeing massive improvements in their workflow. We’re excited to work together with Intelistyle team as they build out their vision and offering that serves the growing fashion industry and market.”