Revery.ai has developed a tool that uses computer vision and artificial intelligence to help you shop online.
A team of Ph.D. students Kedan Li and Jeffrey Zhang, along with Min Jin Chong, created what they believe to be the first tool to use existing catalog images to process over a million garments per week. This is something that previous versions of virtual dressing rooms were unable to do, Li explained to TechCrunch.
California-based Revery is part the Y Combinators summer 2021 cohort, which will be completing the program in late November. YC has provided $125,000 in funding. Li stated that the company has a two year runway and is looking to raise $1.5 million to accelerate its growth and make it more attractive to large retailers.
Li worked before Revery on a startup in personalized email. However, it was difficult to make it work because of the free versions of legacy players. He began to be interested in fashion while searching for areas with less monopoly and greater ability to monetize technology. To start a wardrobe collection, he worked with another adviser. However, that idea never took root.
The team was able to work with Forsyth, making many iterations of the technology in order target business-to-business clients. These customers already had the images on their sites, but desired the computer vision.
Revery uses deep learning and computer vision to make clothing more drapey. Users can customize their models to look more like themselves by changing skin tones, hair styles, and poses. Revery can also work with millions upon millions of SKUs, and it can be up and running in just a few weeks.
Li stated that the virtual dressing room is now available on many fashion ecommerce platforms, including Zalora Global Fashion Group, which Li described as one of the most important fashion companies in Southeast Asia.
He said that it is amazing the results they are getting. Customers report strong conversion rates. They are seeing them up to five times a day, something they have never experienced before. An A/B test was conducted for Zalora. We saw an increase of 380%. We are excited to continue our work and implement our technology on all their platforms.
This technology is coming at a moment when online shopping has soared last year due to the pandemic. The e-commerce fashion sector in the United States accounted for 29.5% of all fashion retail sales in 2020. This market value is expected reach $100 billion in 2019.
Li stated that Revery has already spoken to over 40 retailers and is working with them to make this a priority in their online race.
The company will be focusing its efforts on increasing adoption and going live with more customers over the next year. Li plans to invest in body type capabilities to differentiate himself from the competition. This is something that retailers are asking for. He said that this type of technology is difficult because there are not many models for different body shapes.
He believes that the company will need to collect data to allow users to create their avatars and see the results.
He said that we might be actually seeing the tipping point and may have the right product to meet the demand.
