Fashion Trend Forecast Ltd Heuritech Completed 4 Million Euro A Round Financing

French fashion trend Forecast Ltd Heuritech announced the completion of the 4 million euro A round of financing, led by venture capital fund Elaia and Serena, Pierre Denis of former Jimmy Choo directors and Coralie Cartier of the former Cartier company executives. Heuritech will use this round of financing to enter the international market and beauty industry.

Heuritech was founded in 2013 by machine learning expert Charles Ollion and Tony Pinville in Paris. It is a technology company using artificial intelligence (AI) tools to predict the popularity of fashion brands and products. Today, over 100 million photos are released every day on social networking platform Instagram, and 3/4 of purchases are influenced by social media. Against this background, brands must understand the changing preferences of consumers.

A patented technology of Heuritech can analyze 3 million images and videos a day, and can extract more than 2000 details from each picture to detect subtle signs that indicate future trends. Since its launch, Heuritech technology has identified 4000 different trends, and the company claims that the accuracy rate is 90%. Heuritech provides data support for product, sales and marketing teams in terms of market opportunities and market forecasts.

In 2016, Heuritech raised 1 million 100 thousand euros in the first round of financing. At that time, Heuritech was positioned as a luxury industry, and gradually acquired cooperation opportunities with brands such as Louis Vuitton, Dior and Paco Rabanne. Subsequently, the company expanded its business to the field of sports and fast fashion, including Adidas, Fashion3 and Wrangler.

Heuritech is one of the second batch of companies launched by Lafayette Plug & Play accelerator in early 2017. In the same year, Heuritech won the first LVMH Innovation Award.

This year, Heuritech released a new trend prediction platform that allows brands to predict and analyze products based on geographic location and audience. At present, the platform consists of 40 teams.

　　 Tony Pinville said: "first of all, our goal is to consolidate our market strategy by hiring key personnel. We are proud to cooperate with customers from all over the world, including Europe, the United States and Asia. Heuritech will now focus on further international expansion, especially in New York and Singapore. At the same time, we will enter a new field, first of all, from the beauty industry. Over the past three years, many beauty brands have come to cooperate with us.

About Elaia

Elaia is an independent Vc firm headquartered in Paris, which manages more than 350 million euros and focuses on digital and deep technology start-ups in Europe. Elaia is committed to the potential seed companies and A investments of disruptive startups, and to cooperate with them in the process of growth. Elaia's portfolio includes: Criteo (IPO), Orchestra Networks (sold to Tibco), Sigfox, Teads (sold to Altice), Mirakl, tinyclue, Altice and so on.

About Serena

Serena was founded in 2008. The core idea is that venture capital should work for their portfolio companies rather than portfolio companies. The company currently manages 350 million euro assets and invests in bold enterprises. They provide professional knowledge and operational support on demand for enterprises through offices in Paris, New York and Singapore. Serena's portfolio companies can take advantage of the unique European Operating Partner (operation cooperation) model and benefit from the active C community through the Serena Squad platform. The platform is open to all portfolio companies in the past and present in Serena, and companies can independently promote each other. Serena is still the only European fund with Serena Dataventures, an investment tool based on big data and artificial intelligence.