|By PR Newswire||
|December 15, 2013 07:01 PM EST||
LONDON, December 16, 2013 /PRNewswire/ --
New World Private Equity partners (NWPE) has led a £2.6 million growth funding round in Metail - http://www.metail.com - the fast growing online body shape and garment fit visualisation company. Investors Stefano D'Anna and John Gleasure, co-founders of Perform also participated in the fundraising. Metail has previously secured over £2.8 million in funding, bringing its total to over £5.4 million.
Metail's CEO and Founder, Tom Adeyoola, comments, 'This new round of funding enables us to increase our brand awareness and operational presence on a local and international level. It also allows us to expand the development work led by our team in Cambridge.'
NWPE Partner, Stephen Altman, who will join the Metail Board as a result of the investment, comments, 'Metail follows the main consumer trends we have seen over the past 10 years; it is a social tool centred in e-commerce that is digitally based, focusing on connectivity and most importantly, it is a scalable global proposition.'
Founded in 2008, based in London and Cambridge, Metail develops online body shape and garment fit visualisation technology. The technology aims to increase consumer confidence and enjoyment in buying clothing online, whilst also reducing return rates for the retailer. Metail's technology re-creates the fitting room experience, online. The company's cutting edge technology is founded on the work of Chief Scientific Officer and co-founder, Duncan Robertson, one of 7 PhDs within the company.
Tech City borders widen - Metail moves to Whitechapel
In early 2014, Metail will move into a 6,000 sqft newly converted warehouse office within New Loom House, in Whitechapel.
Significant hire for Metail as Sarah Walter appointed as Chief Creative Officer
Sarah joins the Metail team bringing her media and fashion experience, Vogue, Harper's Bazaar and Marie Claire, retail experience as Head of Fashion Communications at New Look and Director at River Island as well as her e-commerce experience as CEO of style-passport to the Metail brand.
Winner of two Research and Development Grants from the Technology Strategy Board (TSB)
Metail has been successful in gaining two prestigious technology grants from the TSB. The first for £100k investigated improvements to the speed and accuracy of digitised imagery and the second for £250k will enable these learnings to be further tested and delivered commercially.
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