AI-powered digital wardrobe platform Acloset raises 3 billion won in Series A

LOOKO, the operator of AI-powered digital closet platform Acloset, announced on the 4th that it had raised KRW 3 billion in a Series A round. The round was led by KT Investment, with Laguna Investment and others also participating.

The investment was reportedly driven by recognition of not only the LOOKO team’s AI expertise but also its ability to rapidly amass personal wardrobe data—something no one had previously achieved—and its potential to use that data to transform the fashion market of the future.

Acloset, operated by LOOKO, is a digital closet platform that provides personalized fashion services based on users’ wardrobes. Since its official launch in February 2021, it has grown rapidly, reaching 500,000 members within a year. As of May 2022, it had 700,000 users worldwide.

The LOOKO team is focused on using personal clothing data uploaded at a rate of 60,000 items a day, with more than 14 million items collected to date, to develop personalized styling and recommendation engines for content and products. The company plans to transform shopping and fashion content experiences by offering hyper-personalized product recommendations based on users’ own wardrobes.

LOOKO was also selected in April for TIPS and the fourth cohort of Google for Startups’ ChangGoo program, reportedly earning high marks for its technology and business potential.

LOOKO said it will use the investment to hire more talent, enhance its services, and focus on attracting users worldwide.

“To stand out from other fashion IT services, a high-performing recommendation algorithm based on personal wardrobe data is essential,” said LOOKO CEO Ko Hae-shin. “Building on this successful fundraising, we aim to grow into a globally competitive, hyper-personalized fashion platform by offering personalized product recommendations in the third quarter of this year.”