Hey Savi secures 2.2 million pounds pre-seed investment

Hey Savi, a new fashion search and recommendation platform, receives £2.2 million in pre-seed funding. The startup was founded entirely by women

LONDON, July 16, 2024 - Hey Savi, the new UK fashion search and recommendation platform, has today announced that it has received £2.2 million in funding. This round is among the largest pre-seed funding ever achieved by an entirely female-founded tech startup in the UK. By using artificial intelligence (AI) and unique customer and fashion data, Hey Savi will fundamentally change the way fashion enthusiasts search and shop for their perfect outfit online.

The founding team

Hey Savi was founded by Victoria Peppiatt, Angela Vinci and Sarah Daniel. The dynamic trio brings extensive experience from their previous successful business start-ups, build-ups, scaling and exits. Victoria, who has already been awarded Tech Entrepreneur of the Year by Management Today, is an experienced tech founder, investor and NED who successfully sold her previous startup, Phrasee, in 2022. Angela has developed world-leading consumer products for major brands including Farfetch, Gap, Sephora, Vinted and Apple. Sarah, former global CEO of Prominate, has extensive experience in successfully scaling fast-growing, profitable businesses in international markets.

The business idea

Hey Savi uses AI technology to provide a personalized solution that enables customers to find and buy their perfect outfit first time. In the UK, over 10,000 fashion searches are conducted every minute, yet the search functionality for online shopping has barely changed since the dawn of the internet. Hey Savi wants to change this and offer shoppers a completely new and personalized shopping experience.

The problem for consumers today is that search engines always prioritize their business models with paid advertising instead of providing relevant results. The search experience is outdated and not suited for today's fast-paced fashion world. We are creating an experience that customers will love and that gives them confidence in their choices.

Angela Vinci, Co-Founder and Chief Product and Technology Officer (CPTO) at Hey Savi

Market potential and future prospects

Victoria Peppiatt, co-founder and co-CEO, commented on the funding: "The response to our funding round has been phenomenal. The tremendous support we have received from high caliber investors, including respected angel investors from Boardwave, Founders Capital and the WITSEND community, confirms both the potential of our product and the market opportunity. We are particularly proud that 54% of our investors are female."

With the fresh capital, Hey Savi plans to further advance its product development, expand its team and strengthen its market position. The startup is supported by an industry-leading advisory board including Gareth Jones, Chief Marketing Officer at Sotheby's, Robin Sutara, Chief Data Officer at Databricks, and Richard Goold, Partner at Wilson Sonsini.