A Swedish startup built on vibe coding startup Lovable, which aims to reduce the age-old problem of customers returning ill-fitting clothes, has bagged funding from the Lovable CEO as part of a SEK 6million (around €550,000) angel investment round.
Lumoo's AI platform, built on Lovable, helps brands and retailers with product visualisation, such as virtual try-ons and automated brand modelling, and content production. It says its AI-powered tech is a notch above current virtual try-ons.
It aims to reduce the problem of customers returning clothes, which costs the retail industry billions of pounds every year.
Lumoo has signed deals with brands including Gant, Brothers and AWNR Group. Lovable co-founder and CEO Anton Oskia is part of a "strategic group of prominent angel investors", who are mainly from the fashion and tech industry.
Lumoo will use the capital to target international expansion and cater for the demands of its clients. Oskia said that Lumoo was on track to hit €1M ARR within its first year.
Lumoo was founded by Peter Thörngren and Henrik Skagerlind Fasth, who between them have 25 years in the fashion and retail industry.
Thörngren, CEO, Lumoo, said: “This investment is a strong validation of the rapid growth we are experiencing and the trust we’ve built with some of the most influential brands in the Nordics.
"The capital enables key recruitment and faster development of our AI platform, with the goal of establishing Lumoo as the global industry standard."
Image: Lumoo
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