- UK-based Hey Savi secures £2.2 million investment for its AI-powered fashion search platform.
- Co-founded by Victoria Peppiatt, Angela Vinci, and Sarah Daniel, all with extensive backgrounds in tech and fashion.
- Platform uses advanced AI to offer personalized fashion recommendations and streamline shopping.
- Focuses on connecting users to retailers with available stock in their size and at competitive prices.
- Funding round includes support from high-profile investors like Boardwave and Founders Capital, with 54% female investor participation.
- Advisory board includes industry leaders like Gareth Jones and Robin Sutara.
Main AI News:
Hey Savi, the UK-based fashion search and recommendation platform, has announced a significant milestone today with the successful securing of £2.2 million in investment. This funding round marks a pivotal moment for the company, positioning it as the second ever fully-female-founded UK technology company to raise over £2 million at the Pre-Seed stage.
Founded by Victoria Peppiatt, Angela Vinci, and Sarah Daniel, Hey Savi stands out in the crowded fashion tech landscape by harnessing advanced AI algorithms and rich fashion data to revolutionize the online shopping experience. The platform prides itself on delivering personalized recommendations and seamless shopping solutions, promising users the ability to find their perfect fashion items within 60 seconds. By connecting shoppers directly to retailers with available stock in their size and at the best prices, Hey Savi addresses a critical gap in the market, where traditional search functionalities have failed to evolve alongside the rapid pace of digital commerce.
Victoria Peppiatt, co-founder and co-CEO of Hey Savi, expressed profound gratitude for the overwhelming support received from high-profile investors during this funding round. Notable backers include prominent angels from Boardwave, Founders Capital, and the WITSEND community, whose endorsement not only validates Hey Savi’s business model but also underscores the immense market opportunity it aims to capture.
“Our vision is to transform the way people shop for fashion online,” commented Victoria Peppiatt. “The response to our raise has been phenomenal, and we are thrilled to have such a strong network of investors who share our passion for innovation and customer-centricity.“
Angela Vinci, co-founder and Chief Product and Technology Officer (CPTO) at Hey Savi, criticized the current state of search engines in the fashion industry, noting their prioritization of paid advertising over delivering truly relevant results. “The search experience is outdated and not fit for today’s fast-paced fashion environment,” Vinci remarked. “At Hey Savi, we are committed to creating an experience that customers will love, empowering them with confidence in their fashion choices.”
In addition to its innovative approach to fashion tech, Hey Savi benefits from a distinguished advisory board comprising industry leaders with extensive experience in marketing, data analytics, and legal counsel. Notable board members include Gareth Jones, Chief Marketing Officer at Sotheby’s and former CMO at eBay and Farfetch; Robin Sutara, Chief Data Officer at Databricks and former Chief Data Officer at Microsoft; and Richard Goold, Partner at Wilson Sonsini, renowned for his expertise in venture capital and corporate finance.
Conclusion:
Hey Savi’s successful funding round underscores strong investor confidence in its innovative approach to enhancing the online fashion shopping experience. With a focus on AI-driven personalization and efficient inventory management, Hey Savi is poised to capitalize on evolving consumer preferences and expectations in the digital fashion marketplace. This investment not only validates the platform’s potential but also signals growing opportunities for tech-driven solutions in the fashion industry.
