Dopplr, a pioneering AI-powered virtual try-on platform, has successfully raised USD 750,000 in a recent funding round led by Cornerstone Ventures and US-based BAT VC. This significant capital injection will enable the company to expand its cutting-edge technology across a broader range of apparel categories, including sportswear, lifestyle, and innerwear, solidifying its position as a leader in the virtual try-on industry.
Founded in 2020, Dopplr’s innovative virtual try-on technology provides users with a photorealistic 3D experience, allowing them to create digital twins, determine their perfect size, and visualize their appearance in different apparel. The platform’s key features are designed to significantly reduce order return rates in the online commerce sector, promoting a more efficient and sustainable business model.
The company stated in its press release that the newly acquired funds will be instrumental in scaling its operations and enhancing its technology to cater to a wider array of apparel brands. By doing so, Dopplr aims to address one of the most pressing challenges in the fashion e-commerce sector—high return rates due to size-related issues.
“Dopplr helps apparel brands boost their digital marketing ROI by garnering more value from the webstore traffic while checking their operational cost of returns, thus pushing profitable growth. We are glad to have Cornerstone Ventures as our partners, and we shall use the investment to grow our tech and scale our operations,” said Sresht Agarwal, Co-Founder of Dopplr.
The platform’s personalized approach not only enhances the shopping experience for users but also generates valuable behavioral data that helps online brands make strategic decisions and customize their offerings. According to Dopplr, their solution has proven to reduce returns by over 40 percent, improve conversion rates by 34 percent, and increase the average order value, making it a game-changer for the e-commerce industry.
Commenting on the investment, Nanika Kakkar, Partner at Cornerstone Ventures, expressed enthusiasm for Dopplr’s innovative technology. “We have been most excited about Dopplr’s tech platform that creates this digital-twin experience on AI-powered 3D meshes. The platform has the potential to be extended to use-cases beyond virtual-try-ons to offer a metaverse experience and enable physical-digital inter-portability and eventually unlock Web 3.0 ready solutions for digital commerce.”
Dopplr’s mission to reduce return rates is particularly significant in light of the average 30 percent return rate for online apparel purchases, which poses substantial operational challenges and contributes to an unnecessarily high carbon footprint. By offering a solution that minimizes fit-related issues, Dopplr is not only improving the efficiency of online commerce but also contributing to a more sustainable industry.