Amsterdam student-run VC fund ASIF Ventures invests in LALALand, another ACE Incubator alumni

Dutch AI startup LALALand uses neural networks to generate images of artificial humans. It is disrupting e-commerce apparel webshops by letting shoppers turn their online shopping experience into a personalised and customised shopping spree. The company offers brands a vast library of age, size, and ethnic-inclusive models so that online shoppers can see themselves in the latest apparel as per their requirements.

Founded by Michael Musandu and Ugnius Rimsa in 2019, the company aims to let brands save operational costs and reduce returns and changes as shoppers can personalise what they see on the screen depending on their sizes and preferences.

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Raises pre-seed funding

In a recent development, the Dutch AI startup LALALand secured pre-seed funding from ASIF Ventures, which is an Amsterdam-based venture capital fund focused on students and recent graduates. LALALand is prepping for an upcoming launch with a well-known lingerie brand. Also, it intends to expand to mainstream retailers with the recently raised ASIF investment. In 2020, this AI startup wants to develop new features, add more brands, and provide customers with a completely personalised experience.

ACE Incubator alumni

LALALand took part in last year’s UtrechtInc’s summer 2019 program and it is an alumni of the ACE Incubator program that started in late 2019, where it was introduced to ASIF Ventures. Notably, the VC firm also invested in a 2018 alumni of ACE Incubator, Dyme, which is a fast-growing fintech app that lets users manage their expenses.

“Michael and Ugnius’ tangible belief in their vision, coupled with the breadth of their technical know-how and relentless drive made us want to partner up with LALALand”, said Floris Kibedi Varga, Director at ASIF Ventures. “ASIF Ventures aims to support student founders by providing capital, expertise and a network to early-stage startups. Most of all, we look for founders that are extremely driven and passionate about the problem they are trying to solve and have the abilities to execute, alongside ASIF” said Federico Maroli, President of ASIF Ventures.

Main image picture credits: LALALand

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