Start-up develops 3D models of e-commerce customers | Central regions, Finance, business MarchmontNews.com

Central regions | Retail, FMCG | Finance, business

Start-up develops 3D models of e-commerce customers

16 Nov '18
Texel, a Russian start-up, is developing 3D models of the human body for the retail market.

The young company has developed a 3D scanner that is said to be able to create a model of a person or large-sized item within 90 seconds. Its products, focused on retail, are already present in 11 countries. The start-up is currently working on artificial intelligence technology enabling the generating of a 3D model of a person without any scanner, when all the user needs to do so is his smartphone.

Texel hopes its parametric model development technology will help e-commerce operators reduce the percentage of refunds customers expect upon returning the items of clothes bought online. According to Hewlett Packard Enterprise estimates, reducing the returns of purchased clothes by 10% would help e-commerce operators save about $36bn globally.

Earlier this year Russia’s Internet Initiatives Development Fund (IIDF, aka FRII) invested $820,000 in Texel. The start-up used the FRII investment to support patenting procedures, the fine-tuning of the technology, and expansion into the U.S. and EU markets.