Most people generally know their sizes for cloths, but Italian startup XYZE wants to provide an even more precise manner of finding suitable clothing. XYZE was founded in 2013, but finally went live with their product this month.
This device will be familiar to anyone who has used a tape-measure, but it is a bit more than what you have likely used before. Priced at $45, the WiFi-enabled and battery-powered device allows users to measure the body part of their choosing and to then transmit this data to their smartphones. The app can be downloaded for free and users then create an ID, which allows them to translate their measurements into the size specifications for a particular brand.
In addition to selling the device itself, XYZE says that they intend to sell a software license for their e-store and integration for physical stores.
The startup has opted to test interest and raise funds through a campaign on Indiegogo. It is still early, but the campaign has thus far generated just under 4,000 Euro from 78 funders. They are still a ways off from their goal of 60,000 Euro, but they still have 16 days to reach their target. Their campaign is fixed-funding, which means that they will not take anything home if they do not reach the goal.
The founders of the company invested some of their own money to start, but the startup picked up an undisclosed amount from the H-Farm incubator in 2013 in exchange for a minority share. The startup picked up further funds from the incubator in 2014 and used it to expand their team, increase their research-and-development efforts, and to market the product.