American retail giant, Walmart, acquired Israeli startup Zeekit, a developer of a virtual fitting room platform. Both companies have yet to report the full details on the acquisition, but the startup, which was founded by CEO Yael Vizel, Nir Appleboim, and Alon Crystal, has raised $24 million to date, hinting at a potential multi-million dollar valuation.
A virtual fitting room
When shopping for clothes online, there’s always that fear of a shirt or pants looking totally different from the picture, or the size not matching, different color complex, and many other reasons. By using Zeekit’s tech, potential shoppers can virtually “try on” clothes before they click the purchase button. All shoppers need to do is upload a full body picture of themselves or choose a 3D model to represent the desired figure, and check out how they look in their new threads before committing.
Zeekit was developed by Yael Vizel, an Air Force Major in Res., who put the topographical analysis she learned about in the military to use - on the human body; Nir Appleboim serving as VP R&D; and CTO Alon Crystal. The company’s customer base includes leading brands, including Macy’s, Asos, Tommy Hilfiger, Adidas, and others. According to Pitchbook, Zeekit has raised $24 million from private investors, Jovono, Bank Hapoalim, and a number of accelerators.
The Zeekit founding team is expected to join Walmart upon completion of the deal. According to the retail giant, it looks to incorporate Zeekit’s technology on its online shopping sphere very “soon”.
Announcing the exciting news, Denise Incandela, EVP of Apparel and Private Brands, Walmart U.S., said: “We’re confident that with the team’s expertise in bringing real-time image technologies, computer vision and artificial intelligence to the world of fashion, we’ll identify even more ways to innovate for our customers in our continued effort to be the first-choice destination for fashion.”