Our New Deal: We Led the €1,1M Seed Funding Round For a Computer Vision Solution For Interior Design
The Untitled Ventures team is pleased to share, we led the round for WIZART platform, with the participation of Fores Ventures, Advance Capital, JJ Ventures and Smart Partnership Capital.
Why We Invested
WIZART uses Computer Vision / AR solution for visualizing finishing materials, that resolves e-commerce conversion and order return issues. Based in Gdańsk, Poland with an office in London, UK.
“We invested in WIZART because of several positive signs. Firstly, it matches our strategy to invest in deeptech. They have breakthrough computer vision technology which they already have shown traction (customers and MRR growth, product usage/traffic) which demonstrates to us, they are able to:
- produce and deliver a product matching market needs
- build marketing and sales,” says Oskar Stohowiak, MG at the Untitled Ventures.
The startup generates 55% of revenue in the USA and Western Europe, 20% in Eastern Europe, the rest in South America, the Middle and Far East, Australia. Every month WIZART makes over 1 million renders for 100,000 unique users worldwide and this figure is growing by 15% per month. WIZART has partnered with well-known wallpaper manufacturers around the world (AS Creation, Marburg Tapeten, Brewster, York Wallcoverings to name a few).
“We followed the project with great interest. The startup uses multi-level self-learning neural networks and augmented reality technologies to help digitize the market for finishing materials, which is especially important in connection with the straightening of the supply chain in remote trading. We hope that the funds we have invested in this project will allow it to seriously increase its presence in Europe and this will become a good basis for its further scaling” says Konstantin Siniushin, founder at the Untitled Ventures
About the Market
The global market for Interior Design Services estimated at US$150.7 Billion in the year 2020, is projected to reach a revised size of US$255.4 Billion by 2027, growing at a CAGR of 7.8%
Contact The Untitled Ventures