SAIZ secures 2.5 million euro seed investment

The Berlin-based RetailTech startup SAIZ has received a seed investment of 2.5 million euros to revolutionize the fashion industry with precise sizing and fitting solutions. Investors such as EnjoyVenture and Salica Investments support the further development.

Berlin, July 2024 - SAIZ, a RetailTech solution that uses data analytics and AI to solve one of the fashion industry's most pressing problems: Sizing and fit, has successfully secured a seed investment of €2.5 million. SAIZ will continue its journey to further improve current technologies and develop new solutions to become the largest player in the size and fit market.

This investment was led by EnjoyVenture and Salica Investments and follows the company's funding round last year, which was led by Spread Ventures and highlights SAIZ's significant growth. The startup has built a robust customer portfolio and works with renowned European fashion brands such as s.Oliver, Marc O'Polo, Tom Tailor, Jack Wolfskin and many others.

The startup

Founded in November 2021 by Svenja and Marita, SAIZ uses advanced analytics and artificial intelligence to solve one of the fashion industry's most pressing problems: Sizing and fit. The company's mission is to revolutionize the fashion industry by providing accurate sizing recommendations and fit solutions that help brands reduce returns, increase customer satisfaction and promote sustainability. SAIZ works with leading fashion brands to set new standards in apparel technology and provide unparalleled accuracy in size and fit recommendations.

Algorithm provides accurate fit predictions

SAIZ aims to go beyond traditional size recommendations by integrating precise garment measurements into its solutions. The company's flagship products, SAIZ Recommender and SAIZ Studio, provide customers with exceptional product optimization and detailed garment measurement enhancements. Through the data collected by SAIZ Recommender, the algorithm provides accurate fit predictions, comprehensive analytics and detailed reports on any product on e-commerce platforms. By the end of 2024, SAIZ will expand its product offering with a full suite of tools aimed at solving the sizing and fit problems of the fashion industry.

For us, it's always been about transforming an industry and working with pioneers to solve the size and fit problem once and for all

Marita, co-founder of SAIZ

The effectiveness of SAIZ's solutions is demonstrated by their proven ability to reduce return rates by 7-10% and deliver an average return on investment (ROI) of over 7x for customers.

Product that provides the fashion industry with better sizing and fitting solutions

The oversubscribed funding round was led by EnjoyVenture and Salica Investments (formerly Hambro Perks), two leading VCs in Germany and the UK. Laura Noorani from Salica Investments commented: "We have wanted to invest in this space for a long time but struggled to find a differentiated solution until we met Svenja and Marita and saw what the team at SAIZ is building." This was echoed by Dr. Peter Wolff and the team at EnjoyVenture: "From the moment we learned about the SAIZ solution and their unique approach, we knew we wanted to be part of the SAIZ journey."

Houghton Street Ventures, which invests exclusively in LSE alumni, also participated in the round and found a great match with co-founders Svenja and Marita as LSE graduates. SAIZ portfolio investors, including Gateway Ventures from Vienna, also participated in this round.

SAIZ plans to use the investment to develop and bring to market innovative solutions that further revolutionize the fashion industry's approach to sizing and fit, improve the online shopping experience for customers and highlight fashion brands' commitment to innovation, sustainability and customer satisfaction.