Threekit is the only software platform, which lets companies create augmented reality, 3D, and photorealistic images sans the need for photography. Founded by Ben Houston, a visual effects software developer in 2014, its technology is widely used by Hollywood films, including Star Wars, Avengers, and Harry Potter franchises.
With a dedicated group of experienced computer graphics professionals, Threekit is now a world leader, which helps companies create and manage product visuals. When buyers come across realistically presented products, they will be more confident and engaged and the return rates will be less.
Secures €18.2M funding
In a recent development, the e-commerce tech company Threekit announced that it raised $20 million (nearly €18.2 million) Series A funding led by Shasta Ventures. Other investors that took part in the funding round are Salesforce Ventures, Shasta Ventures, which has backed Nest & Mint.com, and serial entrepreneur Godard Abel (SteelBrick, BigMachines, G2). With this investment, the company aims to fuel growth for leading brands with 3D and immersive visual experiences.
Previously, the company raised $10 million (nearly €9.1 million) nearly in investment led by serial entrepreneur Godard Abel. Threekit is headquartered in Chicago with a technology innovation centre in Ottawa.
Addresses pain point of online shoppers!
It is touted that an average online shopper would like to see at least eight images of the product they wish to purchase while it was just three back in 2016. Moreover, online shopping enthusiasts expect to interact with products virtually in real-time with augmented reality and 3D experiences. However, this is almost impossible with one-off 3D design and traditional commercial photography.
With the software platform of Threekit, businesses can create and upload product information and design files instantly at much lesser costs. It is possible to create unlimited number of augmented reality, photorealistic 3D visuals of any product. This helps customers find the right product that they want.
Eventually, Threekit addresses one of the major pain points of online shopping – the ability to touch and feel a product. The company overcomes the challenge by providing virtual product experience to potential buyers.
Significant drop in product returns
With Threekit, its customers have increased conversion by nearly 40% and faced a significant drop in the product returns by almost 80%. Also, these companies have saved nearly 90% on marketing costs as compared to conventional photography. The noteworthy customers of Threekit include CIROC, Modarri, Tailored Brands, and Crate & Barrel.
Presence in Europe!
The Series A funding raised by Threekit comes within a couple of months of its expansion in Europe. Back in September this year, this e-commerce tech startup opened its offices in EMEA. When it comes to Europe, there are offices in Paris and London. In August, Threekit launched its flagship product, Virtual Photographer, a program that creates product images for e-commerce that look real but are completely computer-rendered.
Main image picture credits: Threekit
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