AI based fashion startup Fabulyst raises seed round
Fabulyst
Founders: Komal Prajapati, Vikas Jethnani, Vishal Chitravanshi and Raj Parakh
Founded in: 2016
Financing status: USD 216,000 seed round in 2017
Fabulyst, an artificial intelligence based personal fashion style platform, has raised USD 216,000 in seed funding from iB Hubs.
Fabulyst was founded in 2016 by a group of serial entrepreneurs namely Komal Prajapati, Vikas Jethnani, Vishal Chitravanshi and Raj Parakh.
The Hyderabad-based startup is a platform that emulates a personal stylist. It uses proprietary algorithms combining deep learning, computer vision, natural language processing (NLP), and more than 40,000 styling theory rules from textbooks. Its system understands a user according to her aspirations and preferences, and gives customized recommendations with personal style advice. The company claims that its specialty lies in its ability to solve aspirational user queries without manual intervention.
The startup will use the newly raised investment to develop its technology and acquire global customers.
As per quote from Fabulyst’s LinkedIn page, the revenue from the fashion e-commerce market will be worth USD 40 billion in India alone by 2020.
(Top photo from Flickr)
