Netherlands-based SafeSize, a retail tech company that offers personalized shoe and insole recommendations, announced that it has raised €14M in a Series B round of funding.
The capital comes from Phaistos Investment Fund and existing investors Convent Capital and 3TS Capital Partners.
SafeSize says it will utilize the funds to expand its global presence, particularly in the United States, and facilitate its growth in the Asia-Pacific region.
Additionally, the Dutch startup will channel the funds toward technological innovation and scale up its product offering by leveraging 5G connectivity.
Founded by Angelos Stavrakis, SafeSize has developed a new way for footwear retailers to provide their customers with personalized shoe recommendations.
Through its proprietary technology powered by AI, it matches consumers’ 3D foot data and personal preferences with the world’s largest shoe database to provide highly accurate and personalized shoe recommendations in a few seconds.
Consequently, SafeSize helps brands increase conversion, drive sales, build customer satisfaction, capture valuable data, and at the same time, reduce returns.
The Dutch company works with the largest retailers in the footwear industry today, such as INTERSPORT, Decathlon, Sports Direct, HOKA, New Balance, Skechers, Super Sports Xebio, CCC, and Marks & Spencer.
With offices in the Netherlands, Slovenia, Greece, and China, and most recently expanding its operations in Australia and New Zealand, SafeSize has helped more than 20M consumers in 50 countries find the perfect fitting shoes.
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