Virtusize, a Sweden-based clothes-fitting service for online retailers backed by conglomerate Axel Johnson, has been acquired by a consortium of Japan-based companies for €11m ($12.7m).
Textiles supplier Toyoshima and YJ Capital, a subsidiary of internet company Yahoo Japan, joined Ideos Venture Cap and D4V to acquire Virtusize, and they are investing a further $810,000 in the company as part of the deal.
Founded in 2011, Virtusize provides a way for online clothes stores’ customers to check whether a listed garment would fit by either comparing it to a previous purchase or measuring a favourite item at home.
The company has already formed partnerships with 45 retailers in Japan, including Acne, Uniqlo, Balenciaga, and New Balance, according to news provider Tech.eu.
The company had raised about €4m, excluding the current round, Tech.eu stated. That sum includes an undisclosed amount from D-Ax, a collaboration between Axel Johnson and consulting firm Recapex, in 2014.
Virtusize CEO Gustaf Tunhamaar will move to head of product following the acquisition. The company’s market manager for Asia, Andreas Olausson, is to become its new CEO.