Who are the investors

The company’s investors are Almaz Capital Venture Fund, TMT Investments, and Zubr Capital. The capitalization of 3DLOOK is not disclosed. The co-founder and CEO of the company, Vadim Rogovskiy, told AIN.UA that it has grown 2.5-3 times since the previous round in July 2020.

The company has raised a total of $11.2 million to date, $7.9 million of which was raised during the COVID-19 pandemic. The company’s investors include Boost VC, 500 Startups, ICU Ventures, and U Ventures (part of Horizon Capital).

How the quarantine affected the process

According to Rogovskiy, all communication was online during the lockdown, and therefore the work was more efficient.

“We managed to communicate with more investors because we didn’t have to spend time flying and scheduling face-to-face meetings. We were able to attend important negotiations at any time and from anywhere: for example, I participated in online meetings from a ski resort or during the holidays.
Thanks to that, we closed the round in just five months, which is fast enough for a Series A round. In three months, we chose and signed the best deal out of several options, and in another two months, we negotiated all the details of the deal,” says the company’s CEO.

Use of funds raised

The funds will be used to expand the top management team in the US, as well as for opening new R&D centers in the US and Western Europe. Also, the money will be spent to develop a new product that will allow customers to virtually try on clothes using AR.

Company performance indicators

The company is working on body scanning technology that allows capturing human body measurements with just two casual photos using computer vision and three-dimensional statistical modeling. Such technology can be used, for example, to help a customer choose the right size of clothes.

Among the company’s clients are about 100 brands worldwide, including Dickies (a subsidiary of VF Corporation), Tailored Brands (a major US retailer from the Fortune 1000 list), and major players in the uniform market – 1822 Denim, RedThread, Safariland, and Fechheimer Bros (Warren Buffett’s company).

Since April 2020, the company’s ARR has grown 5.6 times larger and has now exceeded $1 million. Customers were able to reduce returns on items by 30%, and conversions have increased fourfold year-on-year.

The company plans to work not only with clothing manufacturers but also to enter other markets. For example, it wants to make solutions for the furniture industry, custom-made car seats, health monitoring, video games.

Funding round details

The round was led by the European fund Spidertek with participation from the Ukrainian investment firms Flyer One Ventures and Startup.Network, as well as a group of American business angels. 

The funds raised will be used to scale a new product for virtual fitting, YourFit. Among other things, the company will add rapid integration with leading e-commerce platforms, increase the level of personal data protection, and update the interface.

“We need investments to achieve the very ambitious growth and product development goals we have set for ourselves – not only in the fashion e-commerce niche but far beyond it. We now have the major giants in the uniform market and high fashion brands in our portfolio. When developing, we focus primarily on users feedback and brand needs, and this helps us create solutions that are effective and in-demand in the market,” commented Vadim Rogovskiy, co-founder and CEO of 3DLOOK.

At the end of 2021, 3DLOOK raised a total of $14.7 million, including $7.9 million during the COVID-19 pandemic. Among the startup’s early investors are Boost VC, 500 Startups, Almaz Capital, TMT Investments, and the supermodel Natalia Vodianova.

The exact valuation after the last round has not been disclosed. As Vadim Rogovskiy told Forbes, 3DLOOK managed to get to its goal of $100 million as close as possible. At the same time, the company planned a new $15-20 million round for late 2022 – early 2023.

About 3DLOOK

3DLOOK is working on a body scanning and measuring technology that works using artificial intelligence, neural networks, and 3D. It was founded in 2016 by Vadim Rogovsky, who previously ran Clickky.

This year, 3DLOOK’s revenue is almost $2 million. Among its clients are more than 100 companies, including American retailers Tailored Brands and Dickies, high fashion brand e1972, uniform market giants Unisync, Safariland, and Fechheimer Bros, owned by Warren Buffett.

• Revolut — $500 million
• Preply — $10 million
• Allset — $8.25 million
• DMarket — $6,5 million
• Zakaz.ua — €5 million
• ClassTag — $5 million
• Rentberry — $4.5 million
• 3DLOOK — $1 million
• Astromix — $300,000
• Mriyar — $300,000
• Elision — $150,000
• Propertymate — $120,000 
• Go To-U — $100,000

There were several investments with the undisclosed amount:

• Very Good Security — NDA
• eForce — NDA
• Love&Live — NDA
• Respeecher — NDA
• Skyworker — NDA
• PatentBot — NDA
• Meredot — NDA

The investors

The lead investor was the financial group ICU Ventures. Among the new participants of the round is Murat Abdrakhmanov, a venture capitalist from Kazakhstan, who previously announced his intention to invest $2 million in Ukrainian startups, as well as several other angels from the U.S. and Eastern Europe.

According to Vadim Rogovskiy, during the pandemic, 3DLOOK began to grow much faster. The company has concluded many agreements with multibillion-dollar companies engaged in the production of uniforms, as well as with online retailers from the United States and Western Europe. Some of them are currently at the signing stage.

In June, we launched with a U.S. public retailer, first in 200 stores, then planned to launch in all 1,000+ stores within a month.

3DLOOK develops for them a white-labeled app designed for shop assistants, which allows contactless capturing human body measurements with photos for providing clothes sizing service. According to Rogovskiy, this is especially relevant during the pandemic, since most retailers do not have dressing rooms in their stores.

What were the funds raised for?

Vadim Rogovskiy noted that the funds raised will help the startup to make profits faster. The round will also allow hiring more specialists in Ukraine and the USA. In an interview for Forbes, the founder said the company is looking for employees in the New York office.

We need specialists to integrate more quickly and to start up with all the enterprise clients who joined us during the quarantine.

What does 3DLOOK do?

3DLOOK Startup works on the technology of scanning the human body by photo using artificial intelligence, neural networks, and 3D technology. In 2016, it was founded by Vadim Rogovskiy, who previously headed the company Clickky.

In 2018, in the interview for AIN.UA, Rogovskiy estimated the business at $10 million. At that time, up to $2 million has been invested in the startup, including funds from investors, who believed in the future of the technology, as well as personal funds of Vadim Rogovskiy. Later, the startup attracted $1 million from UVentures, 500 Startups, and several business angels.

Over the years, the company has undergone an acceleration program at Boost.vc, receiving $50,000 investment in return for 7% of the company, and in 2019, became a resident of Station F, the largest startup camp in the world.

3DLOOK got into the third season of the so-called “Startup house” from fashion-group LVMH. In total, there are 26 startups that develop solutions in nine categories: from data processing to personalization. In 2019, 3DLOOK received the LVMH Innovation Award.

About Station F

Station F is the world’s largest startup campus with the area of 34,000 sq. meters in central Paris. It was opened in 2017. Station F has gathered more than 1,000 startups and has 30 business programs.

How it works

3DLOOK will have one workplace on the campus, but the team will attend the events of the program with extended staff and can increase the number of workplaces. The startup is also looking for a local business development manager.

Station F emphasizes that they are not an incubator, but a campus. Everything depends on a startup: how actively it uses the opportunities offered. Among them are a large number of daily events, with the participation of companies such as Amazon, Google, Apple, etc. One of the opportunities is the collaboration of startups with each other, as a result of which new products and projects can emerge.

The workspace and meeting facilities at Station F are provided free of charge for six months. You can rent a place to stay for an additional fee.

Whether 3DLOOK will continue to work at Station F depends on their business activity:

Everything depends only on us – how actively we will cooperate with LVMH Houses, how many projects we will develop during this time.

According to the representatives of 3DLOOK, the company will improve its technology of creating 3D models in the near future :

Currently, our technology can create a 3D model and obtain 39 accurate measurements of the human body with two photos. We are planning to improve it to using of a single photo.

According to the representatives of the startup, now the accuracy of 3DLOOK algorithms is not much different from the advanced 3D scanners and often is better than manual measurements of tailors.

Currently, the ICU portfolio includes seven companies, investments of each ranged from $200,000 to $1 million.

Among these companies are:

• Petcube, a Ukrainian company that designs and develops gadgets for pets.
• Hideez, a Ukrainian high-tech startup in cybersecurity.
• Xelba, a company that delivers hardware and software tools for IoT.
• Smart Commerce, a b2b service for instantaneous data collection about products.
• Good Money, social-oriented online banking.
• 3DLOOK, a Ukrainian startup which works on the 3D matching technology to measure human body with photos.
• Apostera, a company offering the development of remote automated technologies for the automobile industry.

ICU announced that the company is planning to make 3-5 more investments until the end of 2019.

The startup analyzes up to 20 different metrics about the business to display its own index, taking into account funding, recruitment rates, and other indicators. According to the GrowJo algorithm, the higher the final rating is the more chance of successful development the company has.

A list of 10,000 companies is available for free. The list includes only companies with registration in the US and Canada, Western Europe, India, and Australia. The top place was taken by Lime, an American service that provides electric scooters for rent.

AIN.UA editors prepared a list of companies with Ukrainian roots or offices in Ukraine. The list is not exhaustive and is subject to updates:

• Verbit.ai (29^th place), an Israeli company that develops a service for transcribing and creating subtitles. Verbit has an R&D center in Ukraine.
• GitLab (158^th place), a service that hosts git repositories, and the main competitor of GitHub. In October 2018, GitLab raised $100 million and was valued at $1 billion. Dmitry Zaporozhets, co-founder of the project, in the interview to AIN.UA, said that the company “can be called a Ukrainian startup”.
• 3DLook (545^th place), a Ukrainian AR startup that works on the technology of scanning the human body by a photo. Last year 3DLook attracted $1 million from U. Ventures and 500 Startups.
• People.ai (772^nd place), a startup with Ukrainian roots, which develops AI platform for sales departments. In total, it attracted $37 million.
• DreamTeam (1,242^nd place), a platform and payment gateway for esports and gaming, founded by Alexander Kokhanovskyy. In September 2018, DreamTeam received $5 million from Mangrove Capital Partners.
• OSF Global Services (3,457^th place), a system integrator with offices in Lviv, Odesa, Ivano-Frankivsk, and Chernivtsi.
• PDFfiller.com (4,112^th place), a service for electronic document management with revenue of $10 million in 2016. Over 500 employees work in the company’s Kyiv office.
• Wirex (4,474^th place), a UK-based company with an R&D office in Kyiv.
• Playwing (4,578^th place), a Game Studio with an office in London and a branch in Kharkiv. The company is owned by Ubisoft, Guillemot Corporation and Longtail Studios.
• Valtech (5,593^rd place), a global digital agency with 5 offices in Ukraine. The offices are located in Kyiv, Kharkiv, Dnipro, Chernihiv, and Chernivtsi.
• Digicode (6,116^th place), an American outsourcing developer with offices in Kyiv and Poltava.

Earlier U.Ventures invested over $2.3 million in 6 Ukrainian startups. Apart from YouTeam, 3DLook and Pufetto, the fund invested in eTachki, Petcube, Sixa and .IO. U.Ventures’s portfolio comprises US-Ukrainian Rallyware. The fund does not disclose the name of one more project.

3DLook startup, founded in 2016 by Vadim Rogovskiy, entrepreneur from Odessa (cofounder of Clickky), develops a technology for scanning and measurement of human body by means of two photos from smartphones, using the artificial intelligence, neural networks and the latest 3D technologies. U.Ventures invested 450,000 Euro in 3DLook as a part of the above-mentioned round.

YouTeam project, launched in Lviv in 2014, was conceived as a platform for outstaffing – technical staff hiring to the companies, dealing with software development. YouTeam was created with an ambitious goal – to become “Booking for outsource industry” – the only resource, where the companies can gain access to the verified international specialists and contractors as well as manage remote development teams and cooperate with them in a secure environment.

Pufetto is one of the leaders on e-commerce market in the segment of furniture sales, which enable the customers themselves to create design of their furniture (sofas, armchairs, beds) based on the project’s online platform with further delivery to the customer’s door within 3-4 weeks. Pufetto sales furniture not only via online platform, but also using showrooms in Ukraine and Germany.

“YouTeam, 3DLook and Pufetto are excellent examples of Ukrainian companies and startups, which create innovative products and are competitive on international market. We enjoy investing in these startups. We are persuaded that there is a huge potential for leadership in the projects’ segments not only in Ukraine, but all over the world” – Yaroslava S. Johnson, President and CEO of Western NIS Enterprise Fund, commented.

Western NIS Enterprise Fund (WNISEF) is the first regional $150 million private equity fund, established based on US government funding through United States Agency for International Development (USAID). For 23 years of operation in Ukraine and Moldova Western NIS Enterprise Fund has invested $172 million. U.Ventures, established under WNISEF, invests in technology startups at early stages.