Central regions | Retail, FMCG | Finance, business
VCs back artificial intelligence for clothes recognition
30 Aug '18
Sarafan Technology, a Russian start-up, has closed a new $1.3m funding round, Firrma.ru reported. The team’s flagship product is artificial intelligence enabled technology for the recognition of fashionable and beauty items on photos and videos.
In this round, a Russian fund called Admitad Invest led the effort; The Untitled and the Sergei Dashkov Fund which had earlier invested $400,000 in the start-up, also took part this time.
The team wants to use the investment to launch international sales and expand partnerships, said Andrei Korkhov, the CEO and founder of Sarafan.AI.
Set up in 2016, Sarafan Technology Inc. can now process 300,000 images a day. A reported 300 vogue venues are linked to it both in Russia and internationally, including Cosmopolitan, 7 Days, Eva.ru, and Lifehacker.