Heuritech

Following a fundraising process orchestrated by Ader Finance, Heuritech raises €4 million to fuel its growth and open offices in New York and Singapore

Investors in this round include Elaia Partners and Serena Capital, joined by Pierre Denis, CEO of Jimmy Choo, Coralie de Fontenay, former General Manager of Cartier France and Alix de Poix, CEO of APEXES.

Founded in 2013 by PhDs in machine learning Tony Pinville and Charles Ollion, Heuritech has built a cutting-edge image recognition technology that analyzes 3 million images and videos each day on social media. After a strategic move into the luxury market in 2016 (supported by a €1.1M fundraising), Heuritech won the inaugural LVMH Innovation Award in 2017, and launched the first product analytics platform for the industry that same year.

In 2019, Heuritech released its trends forecasting platform, allowing brands to get predictive analysis on products and trends based on geography and audience. The team of 40 people is now collaborating with the world’s strongest brands; after starting with the luxury segment (Louis Vuitton, Dior, Paco Rabanne), the team has unlocked the sports segment and global fashion industries in just one year with clients such as Kontoor Brands, Adidas, Fashion Cube.

Today, over a 100 million pictures are posted each day on Instagram, and 3 out of 4 purchases are influenced by social media. In this context, it is mandatory for the brands to understand ever changing consumer preferences at their early stages. Recognizing over 2000 details in any picture (patterns, shapes, products, SKUs…) with the world’s most advanced image recognition technology for fashion, Heuritech is able to capture very early signals in real time, and has already forecasted one year ahead 4000 trends with a 90% precision rate. The platform offers product, merchandising and marketing teams the possibility to make data-backed decisions on assortments, stock and communications.

More than market opportunities, forecasting is also a matter of concern. By 2030, the clothing production volume is expected to reach 102 million tons, a 64,5% increase from today. Brands’ forecasting abilities are crucial to project the right quantities in order to avoid massive waste.