Fashion-focused image technology startup Flixstock, recently announced that it has raised $2.5mn in a funding round led by Wavemaker Partners, an early-stage venture capital firm based in Los Angeles and Singapore. The round also saw participation from Seeds Capital and Lep Capital.
The company plans to use these funds to open new generative Artificial Intelligence research center in Singapore and expand operations in the United States.
Talking about the business model, Founder, and CEO of FlixStock, Harindar Keer said, “Images are key to successful eCommerce, but the production of fashion images has never seen any innovation. With FlixStock’s technology, products are now ready to go online in a matter of hours, instead of weeks. We offer a suite of solutions to help retailers create images on a large scale, at a fraction of the existing costs.
Founded in 2015, FlixStock uses deep learning algorithms to create website-ready model images at scale without the need for cost-intensive photoshoots.
According to Paul Santos, Managing Partner at Wavemaker Partners, FlixStock aims to solve the challenges around the creation and usage of fashion images for eCommerce sites. It can increase the number of on-model images generated every day with an 80% cost reduction.
The company was previously in stealth-mode before formally beginning operations in 2018. It primarily provides its end-to-end image solutions for e-commerce companies and says it has expanded its global presence to over 60 retailers and seven offices in countries such as India, Singapore, the US, France, and Germany.
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