Metail, the British virtual fitting room startup, has secured £2.6 million in its first institutional funding led by New World Private Equity Partners. Perform co-founders John Gleasure and Stefano D'Anna also participated in the said round, according to TechCrunch.
The UK-based startup has previously raised £2.8 million from angel investors, friends and family, and through a TSB R&D grant. The company is presently getting ready to move into a new converted warehouse in East London, the report detailed.
The company uses a 3D visualization technology that enables a shopper to upload a photo and create a representation of themselves using a few basic measurements. The representation, called a 'MeModel,' can virtually try on clothes on sale. The startup makes money through commissions from every purchase that goes through its virtual fitting room, the report explained.
The firm boasts a growing client base that includes Warehouse, Tesco, UK's Shop Direct Group, Asia's SingTel, Germany's Zalando, and Brazil's Dafiti, the report stated.
Metail will end 2013 with an expanded staff of 40, from just 27 at the beginning of the year. The growth prompted the virtual fitting room firm to seek a new headquarters in London, TechCrunch reported.
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