Photo - OYPER
25178

OYPER

AI based technologies for fashion eCommerce

Belarus, Minsk city
Market: Trade, Services, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 15.11.2018
Min investment
$  300.000
4
Total required
$ 1.200.000
Rating
equalizer 325 из 1000
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Idea

We provide AI based technologies for b2b in fashion eCommerce.
Currently our product consists of an AI based smart recommendation engine and a visual search engine.
We offer our technology as a subscription via APIs.


Current Status

The product is ready.
We have a first contract with a Ruissian company.

Market

b2b fashion eCommerce.
US fashion eCommerce market with 2000+ online stores that we are interested in.
We plan to get 5% of that number in 3 years.
European and Russian markets. Our first customer is a Russian company.

Problem or Opportunity

We believe that the main problem of fashion eCommerce is a situation when a customer leaves a shop with money but not with purchases. We think that there are 2 key reasons for such situation:
1. A customer can not find what he/she is looking for. That is a real problem for large online stores, fashion aggregators, marketplaces where there are hundreds thousands and millions of items.
2. A customer doesn`t know what to choose and comes to an online store for advice and recommendations.

Solution (product or service)

1. A visual search engine. Using our visual search engine, a customer can find THE item or a complete look in a few seconds. He/she just needs to upload a picture of what he/she is looking for and the algorithm will find similar items that can be purchased.
2. A smart recommendation engine. Our neural net analyzes visual "stylish" information in real time and extracts the rules of what is "stylish". So the algorithm can create (recommend) complite stylish outfits for a special occasion at a set price range. It also can create outfits by mixing the items the user purchased before with the new items that can be purchased from the seller`s catalog. All recommendations are personalized. As we analyze user`s behavior on the website, purchase history and personal information.

Competitors

-Amazon Echo Look;
-StichFix;
-sarafan.ai;
-ThreadGenius;
-LikeToKnowIt.

Advantages or differentiators

Oyper’s strengths:
-Innovative approach (Works based on ML, Computer Vision and BigData);
-Scalability (leading technologies, micro services architecture);
-Automation (no human work/involvement);
-Trends and up-to-date(AI analyze new trends real-time).

Business model

We offer our technology as a subscription via APIs.

Money will be spent on

Dataset, team, operating costs.

Offer for investor

up to 15%

Incubation/Acceleration programs accomplishment

Ycombinator starup school 2018.

Won the competition and other awards

3-rd place startup battle Minsk , february 2018
finalists "New Retail" by Yandex.market, october 2018
finalists "FunTech"by Funcubator (GoTech contest), Moscow 2018

Photos

Photo 1 - OYPER

Product Video

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address