Texel develops "smart" fitting-room solutions and 3D body-scanning hardware and software. The company built a 3D scanner called Portal MX and a machine-learning algorithm for smartphones; the Portal MX is priced at 1.8 million rubles and is intended for precise measurements in garment manufacturing and entertainment. Texel reports owning intellectual property, passing patent checks in the US and Europe, and completing independent comprehensive checks of its technology, documentation, and finances. The firm says it partnered with a leading scientific laboratory, gathered unique data, and has grown revenue while learning to sell its products. Its mobile application is available in a closed beta on iOS and Android and is provided to clients on request; the company reports pilots with Marks & Spencer that produced good metrics and customers already using the product. The article also includes allegations that investors were misled using a render video and contains the founder's responses and supporting press links. Texel is a Russian startup that develops "умные" (smart) fitting-room solutions for retail. The company announced the launch of its smart fitting rooms in Moscow. The article reports that Texel attracted investment from M&S. No financing amount, instrument, or other financial metrics were disclosed in the article. Public comments in the article raised consumer concerns about handling of personal data and body measurements, as well as questions about possible radiation/exposure from the fitting rooms. Texel plans to deploy its smart fitting-room offering in Moscow retail locations as announced.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2020