ECGI Holdings Invests in AI Startup TrueToForm to Tackle $38 Billion E-Commerce Returns Problem
TL;DR
ECGI Holdings' investment in TrueToForm offers a strategic advantage by tapping into the AI and 3D computer vision market, reducing e-commerce apparel returns significantly.
TrueToForm's AI body scanning platform creates 97%-accurate digital avatars, addressing the $38 billion issue of e-commerce apparel returns through patented technology.
By reducing e-commerce apparel returns, TrueToForm's technology contributes to a more sustainable and efficient online shopping experience, benefiting both consumers and the environment.
Discover how ECGI Holdings' backing of TrueToForm is revolutionizing online shopping with AI that creates near-perfect digital avatars for custom fittings.
Found this article helpful?
Share it with your network and spread the knowledge!
ECGI Holdings Inc. (OTC: ECGI), a diversified holding company with a focus on innovation-led sectors, has announced its first investment through Uplist Ventures in TrueToForm, an AI and 3D computer vision startup. TrueToForm's technology addresses the significant issue of e-commerce apparel returns, estimated at $38 billion annually, by creating highly accurate digital avatars for customers. This investment underscores ECGI's strategic direction towards supporting transformative technologies in AI, blockchain, and health tech.
TrueToForm's platform, which boasts a 97% accuracy rate in creating digital avatars, is already being utilized by ECGI's Pacific Saddlery brand for custom fittings. With a client base of over 50 and a pipeline of 25 brands, the startup is rapidly expanding its reach. The backing by notable investors such as MassChallenge, Dartmouth Angels, and Chicago Booth Angels further validates the potential of TrueToForm's technology to revolutionize the e-commerce apparel industry.
The implications of this investment are vast, not only for ECGI Holdings but also for the e-commerce sector at large. By reducing the rate of returns, TrueToForm's technology could significantly lower costs for retailers and improve sustainability by minimizing waste. For consumers, it promises a more accurate and satisfying online shopping experience, potentially transforming how apparel is purchased online.
Curated from InvestorBrandNetwork (IBN)
