Virtusize, the e-fitting solution we’ve written about a few times – have just announced that they’ve raised a Series A round of D-Ax, a collaboration between the Swedish conglomerate Axel Johnson AB and a group of digital experts, RECAPEX. Virtusize say that the funding will be used to accelerate global expansion and of course help with product development here in Stockholm.
Johan Siwers, co-founder of D-Ax and General Partner at RECAPEX, comments: “We set up D-Ax to specifically focus on digital projects and innovative companies. As soon as we met Virtusize we knew we had unearthed an impressive product and company.
The Virtusize solution is available at 30 online retailers in Europe and Asia, such as ASOS, Monsoon, Esprit and Magaseek. The virtual fitting solution helps the online retailer to reduce returns, increase sales and improve the shopping experience for its customers.
Gustaf Tunhammar, CEO and founder of Virtusize, adds: “Axel Johnson AB is renowned for their long-term experience in retail, whilst RECAPEX has worked on success stories such as Match.com, Livebookings and Bookatable. We are keen to tap into their knowledge to help take Virtusize to the next level by expanding into new markets, growing the team and developing the product.”