The fashion AI startup “SAIZ” has secured a pre-seed investment from Spread Ventures in its first financing round. The newly founded VC fund “Spread Ventures” (part of Spread Group) will participate in the Berlin-based company SAIZ as lead investor with a six-figure sum. SAIZ is an AI-based solution to reduce returns in the fashion industry. It is the business idea of the two founders Svenja Tegtmeier and Marita Sanchez de la Cerda.
The fashion AI startup “SAIZ”
Returns are a key problem for the fashion industry, especially for online retailers. More than half of online purchases are returned due to problems with size and fit. This not only creates significant costs for brands and retailers, but also accounts for a large portion of the industry’s CO2 emissions. SAIZ addresses this problem by using Artificial Intelligence and NLP to optimize sizes and fits for fashion brands – recommending the right size to customers based on their body measurements and preferences. The B2B SaaS platform also provides real-time data analytics and insights that help companies make informed decisions and stay ahead of the competition. As a first-of-its-kind solution, SAIZ creates product-specific 3D measurements for each garment and matches them with each customer’s body measurements.
The two founders previously founded a fashion label themselves. They used AI and data analysis to translate their experience in the fashion industry into an innovative size and fitting solution for the e-commerce and fashion industry, which they further developed together with well-known brands and online retailers.
The Spread Ventures x SAIZ investment
The financing at SAIZ is Spread Ventures’ first investment and a milestone for the company and the industry. The lead investment has been joined by other angel investors from the fashion and e-commerce industries – a reflection of the potential of the solution and the strength of the team behind it. The fresh capital will be used to accelerate product development, expand the team and drive growth.
SAIZ is poised to transform the fashion industry and help brands reduce returns, improve customer satisfaction and become more sustainable.
Marita Sanchez de la Cerda, co-founder of SAIZ on the investment from lead-investor Spread Ventures:
“SAIZ and Spread Ventures are a perfect match. We are super excited to build a sustainable fashion tech future together with a lead investor with the same ambitions.”
Robin Nitsch, Head of Ventures and Innovations at Spread Group on the investment in SAIZ:
“SAIZ is the first solution that actually works and is proven to reduce returns. As a result, fashion brands and retailers can not only save on logistics costs, but also reduce their CO2 footprint at the same time. SAIZ fits perfectly with our mission to establish sustainable solutions in the fashion industry and to support Spread Group in its transformation into a fashion tech company. With our investment and close partnership, we can combine personalized products with perfect fit, something that has not been found in the market so far.”
New VC fund “Spread Ventures”
The newly founded investment fund Spread Ventures is Europe’s first VC that specializes in fash-ion tech startups in the pre-seed and seed phase. Commenting on the investment strategy, Robin Nitsch, Head of Ventures and Innovations, says: “We are looking for the best teams in Europe (and beyond) to invest in technology-based startups with innovative solutions for a more sustainable fashion and e-commerce industry. The fashion industry is at an inflection point – pushed by new web3 technologies and ESG requirements, sustainability awareness of consumer generation Z and legislators. These trends and technologies will significantly change the fashion industry in the coming years, from 3D product design to greener materials and production processes to virtual collections, social commerce and circularity solutions. With our startup partners, we want to develop answers to these market trends, share our industry knowledge and test new concepts at scale.”
Related Links
Photo and Video Material
- Photo 1: SAIZ founders Svenja Tegtmeier and Marita Sanchez de la Cerda with Robin Nitsch, Head of Ventures and Innovation (jpg, Copyright Spread Group)
- Photo 2: SAIZ founders Svenja Tegtmeier and Marita Sanchez de la Cerda (Copyright Spread Group)
- Photo 3: SAIZ founders Svenja Tegtmeier and Marita Sanchez de la Cerda in spread x SAIZ Hoodies (jpg, Copyright Spread Group)
- Video: Spread Ventures x SAIZ
About Spread Ventures
Spread Ventures GmbH is the first European early-stage venture fund to focus on pre-seed and seed investments in fashion tech companies, supporting them with operational industry exper-tise from the e-commerce and print-on-demand business. The company is a subsidiary of Spread Group, a technology-enabled global provider of individualized fashion and lifestyle products. Spread Ventures scouts and invests in technology-based start-ups with new solutions for a more sustainable fashion and e-commerce industry. The focus is on B2B and B2C startups in the areas of Fashion Tech // Digital Fashion & Metaverse // New Textiles & Circular Fashion // Creator Economy.
Contact: Robin.Nitsch@spreadgroup.com (Head of Ventures and Innovations)
GET IN TOUCH
