Tuesday, 21 May 2024, Bengaluru, India
Here we are talking about Laws of Motion, a New York-based fashion startup that has raised $5 million in its seed funding round:
Laws of Motion, a New York-based fashion startup, has raised $5 million in its seed funding round. The round saw participation from Sequoia Capital’s The Scout Program, Corazon Capital, California’s Leadout Capital, and angel investors. Other investors include consumer tech and fashion entrepreneurs like Raine Group’s John Howard and Eva Jenabart-Lorenzotti.
The startup has raised $6.5 million so far. The CEO and founder, Carly Bigi, is a former Deloitte executive. Carly mentioned that the company uses AI sizing technology initially built for an apparel brand. Still, the solution is available for other brands willing to give their customers a better experience.
Laws of Motion was founded in 2019 by Carly Bigi as a DTC platform; the startup has developed AI tools that use a one-minute scan of a person and a quiz to identify perfect sizes for women’s apparel. The AI tools this platform uses offer more than hundreds of personalized sizes and up to 16 shapes per size.
The startup plans to use the funding to enter a new business line, scale up operations, enhance technology, and support expansion into new markets. The SaaS offering will give brands real-time access to dashboards to measure conversion rate, size sampling, and return rate.
The managing director of Corazon Capital highlighted their trust in the startup’s potential as the startup had a technology that worked and resulted in lower returns. The startup will continue to move forward and invest in DTC fashion brands and an R&D incubator. The Laws of Motion recently launched its bridal collection and plans to be more shape- and size-inclusive.
The brand provides high-quality womenswear using its AI-driven technology that virtually predicts body measurements with 99 percent accuracy. The startup uses its technology to offer customers a better online shopping experience by helping them with fits of their sizes, leading to low return rates. While the sector has faced a lower return of $1 trillion globally, the Laws of Motion only had a return rate of less than 1%. The startup will soon be introducing new features of its AI-driven technology.
Conclusion
Laws of Motion is a New York-based fashion startup that has raised $5 million in its seed funding round. The funding round saw participation from Sequoia Capital’s The Scout Program, Corazon Capital, California’s Leadout Capital, and angel investors. Other investors include consumer tech and fashion entrepreneurs like Raine Group’s John Howard and Eva Jenabart-Lorenzotti.
The startup uses AIsizing technology initially built in an apparel brand for apparel brands. Still, the solution is now available for other brands willing to give their customers a better experience. The startup plans to use the funding to enter a new line of business, scale up operations, enhance its technology, and support expansion into new markets. The SaaS offering will give brands real-time access to dashboards to measure conversion rate, size sampling rate, and return rate.
Digital Marketing Executive at Scoopearth
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.