Volumental secures $1.4M in capital investment and adds Forward VC as owner in the company.

Sweden Investments 28 August 2018
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Volumental, a Stockholm, Sweden-based company working on a 3D technology that can scan feet in order to create customized shopping experiences for consumer fashion retail stores, announced in a press release securing $1.4M in capital investment.

Funding was provided by new and existing investors, including Forward VC, Sting, Walerud Ventures and Moor Capital.

Volumental, founded in 2012 by Alper Aydemir, Rasmus Göransson, Caroline Walerud and Miroslav Kobetski and led by CEO Moritz Schiebold, developed a platform which enables everyone to create an accurate 3D body model to customize products and services.

The company's 3D foot scanners, used in more than 1000 retail stores worldwide from 35 countries, are used in combination of an advanced AI driven ‘Fit Engine’ that generates highly personalised footwear recommendations.

Volumental is yet to be breakeven, at a revenue number of SEK 26M ($2.9M) registered in the last fiscal year (2017).

Prior to this, Volumental raised roughly $3M from outside investors.