AR/VR-AI apparel eCommerce SaaS solution reducing returns and increasing salesOnline apparel sales ($95B, USA) are increasing at 10.8% annually. This trend has accelerated further post-pandemic due to the need for touch-less commerce.Apparel eCommerce is beset with two large and costly problems; high returns and low conversion resulting in ~$19B in waste cost and ~$16B in lost sales (2020). As online accelerates, so do the problems.Online shoppers return 30-40% of apparel purchases and buy only 2-3% of what they browse. This happens because they cannot see how the clothing fits and looks on themselves. It’s the opposite of an in-store experience, where they try on clothing and view it in a mirror, resulting in low returns (~9%) and high conversion (~25%).Perfitly’s comprehens... [Read More]
Min Investment
$1,000Amount Raised
$136,700Goal
$650K-$2MDays Left
36New York, NY
CrowdLustro Research Report
Perfitly
Industry:
Fashion
Security Type:
Crowd Note
A Crowd Note modifies the typical convertible note so that the crowd does not automatically convert to equity shareholders on the next financing and remain off the issuer’s capitalization table, but the crowd will still participate in any exit as if they had converted to equity. If there is no future financing, the holders of the Crowd Note still have upside, but could miss out significantly.
Equity Opportunity
Date Filed:
November 13, 2020
Date Expires:
February 23, 2021
Open to Investors
Valuation Cap:
$15M
Platform:
SeedInvest
Use of Proceeds
- Tech Optimization
- Client Onboarding
- Sales & Marketing
- Operations
Management
Dave Sharma
Co-Founder / CEO
40+ years leading large operations in manufacturing, technology. Founded, established, divested and acquired several businesses in the TTA-Transitair group of companies. Led international consortia in large infrastructure projects and workforces of several thousands. Education: MBA, IIT Chicago; B. Tech, Indian Railways Institute of Eng.
Kash Vyas
Co-Founder / CTO
20+ years delivering technology based business solutions in retail, online media, digital advertising and finance at director level positions. Comcast, Amazon Web Services, Akamai, Goldman Sachs. Director of Technology at iRail.com. Education: BS, Mechanical Engineering, Rensselaer Polytechnic Institute
Raghav Sharma
Co-Founder / Advisor
20+ years in strategy consulting and M&A. Established and divested technology companies. McKinsey & Co, JPMorgan, GuideVine Technologies, iRail.com. Education: AB, Eng & Econ, Brown Univ; MBA, Wharton School of Business
Deal Structure
Discount: 20%
Interest Rate: 5%
Note Term: 24 months
Additional Reports
There are no additional research reports currently.
Key Deal Facts
- Deployed at a top-10 (USA) retailer's select site
- Client deployment achieved a 64% reduction in returns and an 80% increase in conversion on their eCommerce site
- 2019 NRF Expo (700 international exhibitors, 40,000 visitors) rated "Best in Show" across multiple top rankings (Top 3, 5, 7)
- Launched smartphone-based app for body replica (“avatar”) creation, minimizing the human error and subjectivity that may stem from self-reported measurements
- Winner "Most Fundable Company" competition, Pepperdine Graziadio Business School national contest. Through rigorous multistage diligence, from among 4,500+ early-stage applicants (Oct. 15, 2020)
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