Veesual raises 7.5 million US dollars and announces US expansion

Veesual, the Paris-based AI-powered virtual try-on platform for the fashion industry, has closed a 7.5 million US dollar seed round led by AVP (AXA Venture Partners) and Techstars.

The investment will accelerate the company's plan to expand into the US market by opening its first US-based office in New York in 2025, recruiting senior US talent, and enhancing its current product offering for US apparel companies.

Maxime Patte, co-founder and chief executive of Veesual, said in a statement: “The global fashion ecosystem is undergoing a seismic shift right now. The industry is increasingly focused on sustainable production, a better, more relevant buying experience and upcycling as a new standard.

“At Veesual, we’re meeting those changes by drastically improving how shoppers buy online which creates a more inclusive retail experience while also improving fit and reducing waste. This fundraise is critical for our plans as we scale in the United States with brands who are pioneering the augmented shopping experience. We anticipate significant growth in 2024 and beyond.”

Veesual expands in the US with Eileen Fisher partnership

To kickstart its US expansion, Veesual has announced a partnership with women’s fashion brand Eileen Fisher to integrate its virtual try-on technology into the brand’s online shopping experience.

Blair Silverman, vice president of e-commerce at Eileen Fisher, added: "We are thrilled to be the first US brand to partner with Veesual on this innovative new virtual try-on tool. Eileen Fisher is committed to inclusivity, designing clothes that cater to every body shape. Navigating online shopping poses challenges, particularly in predicting how garments fit diverse body types.

“Our collaboration with Veesual addresses these challenges head-on and we are proud to be launching a tool that is sure to be a new standard for e-commerce.”

AVP backs French virtual try-on start-up Veesual

Founded in 2020, Veesual is looking to change how consumers experience digital retail by helping brands overcome inclusivity challenges through its technology by offering shoppers a true-to-life depiction of how garments will look and fit on realistic models.

Through Veesual’s augmented shopping solutions, Mix&Match, Switch Model and Look Inspiration, its proprietary 2D-based Image Generation Engine (IGT) is designed specifically for fashion brands to deliver high-quality imagery at scale and to be able to adapt several pieces of clothing on any model, with natural renderings and precise fitting.

For instance, Veesual’s Switch Model tool can help brands looking to offer a diverse e-commerce experience for consumers by featuring models of different ethnicities, ages and body types, which can be extremely costly to shoot individual products on various models.

Veesual currently works with several leading brands and retailers in Europe, including Claudie Pierlot, Sergent Major, DPAM, La Redoute and Gemo. To date, these partnerships have “outperformed expectations,” explains Vessual, with a 75 percent average increase in conversation rate and a more than 20 percent increase in average order value for shoppers who engaged with one of Veesual’s solutions.

While 3D-based try-on technology can be expensive and time-consuming, 2D image solutions offer a scalable and cost-effective solution for brands that engage shoppers, adds Veesual. According to recent data published by Insider Intelligence, by 2026, e-commerce is expected to total over 8.1 trillion US dollars and 24 percent of retail purchases are expected to take place online.

Veesual states it enables brands to create a more seamless and inclusive shopping experience for customers, which yields higher sales and a lower return rate, allowing them to capture a larger percentage of online sales.