Safesize secures €14m funding for international growth

By

Nigel TAYLOR

Published
Mar 29, 2023

Greek retail tech company SafeSize has raised €14 million in Series B funding with participation of Phaistos Investment Fund as well as existing investors Convent Capital and 3TS Capital Partners. 

The company is “helping people find the perfect fitting shoes in physical and online stores” and said it has “pioneered a new way for footwear retailers to provide their customers with personalised shoe recommendations, strengthening its leadership position in the footwear virtual fit market”. 

Its proprietary technology is powered by AI and matches consumers' 3D foot data and personal preferences with its giant shoe database to provide fast, accurate and personalised shoe recommendations.

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The new funding comes at a time of growth for the business that currently works with Intersport, Decathlon, Sports Direct, Hoka, New Balance, Sketchers, Super Sports Xebio, CCC and M&S. As part of its strategic plans, it will use the new capital to expand further internationally and enter new markets such as the US. It also wants to supported its growth in the APAC region, further invest in tech innovation and scale up its product offering by leveraging 5G connectivity.

Founder and CEO Angelos Stavrakis said: “The new funding round enables us to accelerate our journey towards our mission to transform the way shoes are produced, sold and discarded around the world.”