Today Paris generative AI start-up Kleep raised €1.8 million.
The company wants to transform the online shopping experience. Research reveals that one in every three garments purchased online is returned, costing retailers a staggering €30 billion annually worldwide (€800 million in France alone) and leading to a substantial environmental toll of 35 million tons of greenhouse gases per year globally.
Size and fit issues are to blame.
In response, Kleep has created a product discovery platform based on Generative AI, enabling brands to slash size-related returns by up to 50 percent and increase conversion rates by 15 percent to 25 percent by boosting customers' confidence and purchase satisfaction.
Kleep immediately attracted strong interest from key players in fashion and e-commerce.
The company is on track to serve 20 active clients just a year post-launch. It will soon announce a strategic contract with one of the leading French retailers that draws over 50 million visitors to its site each year.
The latest funding comes from some of fashion and retail's biggest business angles, including David Dayan, co-founder of Showroomprivé, who comments:
"Kleep stands out for its direct approach to tackling one of e-commerce's most urgent challenges.
With its unique technological strategy, the team is equipped to address a widespread issue in the industry, offering innovative solutions that revolutionise the online shopping experience.
With this €1.8 million boost, Kleep is set to accelerate its commercial breakthrough."
The start-up plans to invest these funds in enhancing its product discovery platform, revolutionising digital shopping by mimicking, through AI, the interactive and personalised assistance usually provided by in-store sales representatives.
Lead image: Kleep.