Why we invested: WIZART

We at the Untitled are so proud to lead the €1,1m seed round in Belarus-founded/Gdansk-based WIZART: the company that brings DIYers a computer vision solution to redoing the flat.

The global market for Interior Design Services is projected to reach a revised size of $255.4b by 2027. Residential segment is projected to record an 8.1% CAGR and reach $157.1b.

There is a well-known problem in the DIY retail industry named “imagination gap” — customers experience difficulties with making a choice because they can’t imagine how wallpaper or flooring would look in their interior. This leads to postponing of the purchasing decision.

The solution to tackle the “imagination gap” doesn’t exist because the core technologies were not accessible/mature enough.

So WIZART dug into the best practices presented by the researchers from technical universities and, in the process, started to create new practices in machine learning. As a result, their own authentic computer vision technology based on the set of neural networks was created.

Wizart, which currently provides over 1 million renders for some 100,000 unique users every month, reports that 55% of its revenues are derived from the U.S. and Western European markets, 20% from Eastern Europe, with the remaining slice of the pie arriving from South America, the Middle and Far East, Australia.

Are you an experienced technology-driven team seeking the next round of investments? If you meet our investment criteria, we will be glad to learn more about you. Submit your startup here https://submit.theuntitled.vc