Virtual fitting startup Deepixel raises 2 billion won in Series A funding

Deepixel, developer of a virtual try-on solution, announced on the 30th that it had raised KRW 2 billion in Series A funding from eBEST Investment & Securities. The company previously secured seed funding from Naver D2 Startup Factory and the Korea Technology Finance Corporation.

Deepixel’s StyleAR is a virtual try-on solution specializing in jewelry and accessories. Built on computer vision technology that recognizes and tracks faces and hands in real time, it delivers high-quality results. The service is available as an API, plugin, or app, making it easy for online retailers to adopt. Since its launch in May 2020, StyleAR has signed up more than 70 clients, including Golden Dew.

Online shoppers are also embracing the new shopping experience. StyleAR has been launched more than 6 million times, and users virtually try on jewelry over 16,000 times a day. Data analysis shows that StyleAR does more than enable virtual try-ons: it also drives actual purchases.

An investment representative at eBEST Investment & Securities, which led the funding round, said, "Deepixel has built a proprietary AR platform based on object recognition technology, and we expect it to become a distinct player in this field as the metaverse market grows." The representative added, "In the highly competitive commerce market, Deepixel’s technology can present products to customers more vividly and help the company grow into a distinctive platform."

Deepixel CEO Lee Je-hoon said, "With this funding, we will strengthen our team with outstanding talent and focus on securing business references." He added, "We have significantly advanced our virtual try-on technology for a range of products, including glasses and nail products as well as jewelry, and plan to expand the business in earnest."

Deepixel: https://www.deepixel.xyz/