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.
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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, a startup specializing in AI and 3D computer vision technology. TrueToForm's patented platform addresses the significant issue of e-commerce apparel returns, estimated at $38 billion annually, by generating digital avatars with 97% accuracy for custom fittings. This investment underscores ECGI's strategic direction towards supporting transformative technologies in AI, blockchain, and health tech.
The startup, which has already garnered support from notable investors like MassChallenge, Dartmouth Angels, and Chicago Booth Angels, boasts over 50 clients and a growing pipeline of 25 brands. ECGI's own luxury fashion brand, Pacific Saddlery, utilizes TrueToForm's technology, highlighting the practical application and potential of this investment. The move not only positions ECGI at the forefront of technological innovation but also addresses a pressing challenge in the e-commerce sector, offering a scalable solution that could redefine online shopping experiences and significantly reduce waste associated with returns.
Curated from InvestorBrandNetwork (IBN)
