presize.ai to raise funding from seed + speed ventures, Plug & Play and UnternehmerTUM

presize.ai, a Munich, Germany-based software developer for the retail industry, announced that it completed a capital investment round.

The money was provided by local investors from Germany seed + speed ventures and UnternehmerTUM and included contributions from existing investor Plug And Play. Presize.ai previously was part of Plug and Play accelerator, which also backed another round in the company in 2019.

presize.ai, founded in 2019 by Leon Szeli, Awais Shafique and Tomislav Tomov, uses mobile body scanning technology to offer its users the option of finding the right size for online fashion orders based on a smartphone video of their body. The tool is aimed for retail customers looking to reduce the high return rate due to orders of the wrong sizes.

Later edit: according to the company, the total raised to date (Sep 2020) is €2 million ($2.4M).