Perfitly

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 comprehensive end-to-end (ETE) solution mimics the in-store process in full detail, creating a true ‘try before you buy’ experience online by showing the shopper in a recommended size and letting them personalize the choice by sizing up/down. The results have been game-changing. At recent large pilot-trials at a top-10 retailer, the in-store selection by shoppers matched their Perfitly enabled online selection by >79%. These results cross-validated the results at Perfitly’s client deployments where returns reduced by 2/3 and conversion increased by 80%.The performance of the platform continues to raise Perfitly’s profile. We currently have 6 deployments at retailers ranging from small to ‘mega’. Several others are in various stages of early discussions to deployment planning. Perfitly has accomplished the ‘try before you buy’ visualization through fusing complex leading-edge AR/VR-AI technologies into a fully home-based solution. The functionality is delivered as a ‘try it on’ button on the client retailer's website/app as an accurate, fully scalable, cloud-based SaaS solution with sub-second response times… a fun, quick and easy experience. 

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)

• Tech Optimization
• Client Onboarding
• Sales & Marketing
• Operations

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

Discount: 20%

Interest Rate: 5%

Note Term: 24 months