Fits.me acquired by Rakuten

Rakuten continues worldwide acquisitions to globalize

acquired London based virtual fitting room mannequin venture Fits.me

Rakuten, Japan’s largest e-commerce + e-finance group, is acquiring many companies around the world both to acquire technology, and to acquire e-commerce capabilities outside Japan in order to globalize. Find some of Rakuten’s recent acquisitions in Europe listed here: http://eu-japan.com/?s=rakuten

On July 13, 2015 Rakuten acquired London based virtual fitting room venture fits.me, both to acquire technology and we assume, also to contribute to Rakuten’s globalization.

Fits.me – virtual fitting room, robot mannequins, and fit advisor

Fits.me was founded in 2010 by two Estonian friends, Paul Pällin and Heikki Haldre, in Estonia, and in 2012 the company moved its headquarters to London.

Fits.me helps consumers visualize how they might look like dressed with clothes from an e-commerce site, and turning around, Fits.me allows e-retailers to collect data about their potential customers.

Fits.me offers a number of service versions ranging from “virtual fitting rooms” to “fit advisors”.

Once the customers has entered his/her body dimensions, weight and other data, Fits.me’s web mannequins represent the customer’s body dimensions, and show how selected clothing would look like on a web mannequin with the customer’s body data.

Fits.me received US$ 14.3 million in founding in three rounds:

  • Seed: US$ 1.8 million (Sept 22, 2010)
    • Estonian Development Fund
  • Series A: US$ 7.2 million (April 17, 2013)
    • Conor Venture Partners
    • Entrepreneurs Fund
    • Fostergate Holdings
    • SmartCap AS
  • Venture: US$ 5.3 million (Oct 24, 2014)
    • Entrepreneurs Fund
    • SmartCap AS
    • James B Gambrell
  • Total = US$ 14.3 million

Rakuten

Rakuten was founded by Hiroshi Mikitani, and is Japan’s leading e-commerce and e-finance company developing a global footprint through a long series of acquisitions around the globe. Find some of Rakuten’s recent acquisitions in Europe listed here: http://eu-japan.com/?s=rakuten

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