Making tailoring accessible through computer vision, and deep learning
Aistetic is a new a University of Oxford Spinout and e-commerce platform with deep technology. We want to make tailoring accessible to more customers by leveraging computer vision, deep learning & advanced visualization. We are building an immersive e-commerce shopping experience from your smartphone – using state of the art computer vision and deep learning to create highly accurate photo real 3D body models from images captured to reduce returns, increase conversion and improve customer experience. This software solution will provide a number of benefits to clothing retailers: 1. Accurate digital measurement for a better fit 2. Sizing recommendations to reduce returns 3. An interactive 3D model to virtually try on and combine clothing to increase average order values and also reduce returns 4. Data to optimize new product development: pattern cutting & sizing. Our purpose is to do this sustainably, by helping to reduce returns and retailers’ environmental footprints.
The online clothing market is worth £221B. 1st market Aistetic is targeting is UK (£11.6B). We will service the market for returns (UK Clothing Returns Cost Saving £490M). Competition are new startups such as True Fit & Fit Analytics – they provide data driven (non visual) algorithms. Our differentiation is the use of deep learning computer vision for accuracy and an immersive shopping experience. Our business model is B2B offering clothing retailers our software as a service with a monthly recurring licensing fee after an initial set up cost.
We are targeting year 5 Net Revenue of £8.8M. After an initial focus in the UK, we will roll out to retailers in Germany, France, Italy, Spain and the US.
We have a world class team:
CEO & Co-Founder, Duncan McKay (15+ years consumer innovation for L’Oréal, Unilever & PepsiCo, INSEAD MBA). Head of Ecommerce, for Pepsi Lipton Europe.
Chief Scientific Officer & Co-Founder, Prof. Phil Torr (Leading Expert in Computer Vision University of Oxford). Phil is also Chief Scientific Officer at five.ai & Co-Founder of Oxsight.
What are you pitching for?
We are pitching for investment, mentoring and collaboration.
We are seeking an investment of £180,000 (SEIS/EIS) to commercialise the technology.
We are seeking mentoring to help us with our product roadmap, recruitment, connect us with partners / customers and fundraise.