Almere, the Netherlands-based SafeSize, a retail tech company that offers personalised shoe and insole recommendations, announced on Tuesday that it has raised €14M in a Series B round of funding.
The capital comes from Phaistos Investment Fund and existing investors Convent Capital and 3TS Capital Partners.
SafeSizesays it will utilise the funds to expand its global presence, particularly in the United States, and facilitate its growth in the Asia-Pacific region.
Additionally, the Dutch startup will channel the funds toward technological innovation and scale up its product offering by leveraging 5G connectivity.
“The new funding round enables us to accelerate our journey towards our mission to transform the way shoes are produced, sold, and discarded around the world. I’m thankful to our super-talented team and our amazing partners for the journey so far,” says SafeSize Founder & CEO Angelos Stavrakis.
“Special thanks to our valued investors Convent Capital & 3TS Capital Partners for their continuous support and to our new investors Phaistos Investment Fund for their trust in our team and vision!”
SafeSize: Offers personalised shoe recommendations
Founded by Angelos Stavrakis, SafeSize has developed a new way for footwear retailers to provide their customers with personalised shoe recommendations.
Through its proprietary technology powered by AI, it matches consumers’ 3D foot data and personal preferences with the world’s largest shoe database to provide highly accurate and personalised shoe recommendations in a few seconds.
Consequently, SafeSize helps brands increase conversion, drive sales, build customer satisfaction, capture valuable data, and at the same time, reduce returns.
The Dutch company works with the largest retailers in the footwear industry today, such as INTERSPORT, Decathlon, Sports Direct, HOKA, New Balance, Skechers, Super Sports Xebio, CCC, and Marks & Spencer.
With offices in the Netherlands, Slovenia, Greece, and China, and most recently expanding its operations in Australia and New Zealand, SafeSize has helped more than 20M consumers in 50 countries find the perfect fitting shoes.
At present, the company operates 9 shoe scanning facilities around the world, scanning and analysing more than 1.5M shoes every year, creating the world’s largest database of shoes’ inner dimensions, sizes, and other characteristics