In an overcrowded market of online fashion brands, consumers are spoilt for choice on what site to visit. They are generally forced to visit each brand one by one, manually filtering down to what they like. Most of the experience is not that great and past purchase history and cookies aren’t much to go on to tailor user experience. If someone has bought an army-green military jacket, the e-commerce site is on a hiding to nothing if all it suggests is more army-green military jackets.
Instead, Psykhe (it’s brand name is “PSYKHE”) is an e-commerce startup that uses AI and psychology to make product recommendations based both on the user’s personality profile and the ‘personality” of the products. Admittedly, a number of startups have come and gone claiming this, but it claims to have taken a unique approach to make the process of buying fashion easier by acting as an aggregator that pulls products from all leading fashion retailers. Each user sees a different storefront that, says the company, becomes increasingly personalized.
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It has now raised $1.7 million in seed funding from a range of investors and is announcing new plans to scale its technology to other consumer verticals in the future in the B2B space.
The investors are Carmen Busquets, the largest founding investor in Net-a-Porter; SLS Journey, the new investment arm of the MadaLuxe Group, the North American distributor of luxury fashion; John Skipper, DAZN chairman and former co-chairman of Disney Media Networks and president of ESPN; and Lara Vanjak, chief operating officer at Aser Ventures, formerly at MP & Silva and FC Inter-Milan. The Little Black Door app makes luxury wardrobes shareable, resalable and sustainable.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry