Nfinite Rakes in $100M to Meet Growing Demand for Immersive 3D Shopping
Online shopping is optimized to provide the utmost convenience for shoppers who need to not only view items of interest but also visualize them in real-world applications. If you’ve ever used a shopping platform that allows you to virtually place a piece of furniture in your home or an item of clothing on your person, you’re familiar with the technology nfinite produces for e-commerce brands.
According to nfinite, a Paris-based SaaS e-merchandising platform with a U.S. headquarters in NYC, the future of e-commerce is 3D and the startup raked in $100 million to meet this demand. The Series B round, announced on Tuesday, was led by local VC giant Insight Partners.
“Insight recognized that we are still in the very early days, and yet are already redefining the e-merchandising space,” Alexandre de Vigan, nfinite founder and CEO, told Built In via email. “Over the last few decades, its partners have built the firm into one of the world’s largest technology investment firms, and we are excited to begin the journey working with them.”
Nfinite plans to use its funds to expand its global customer, engineering and marketing operations teams. The current employee headcount at nfinite is 125 and the startup plans to double this number with substantial hiring in the U.S., Europe and Asia.
Additional funds will go toward growing the nfinite 3D marketplace which, according to the company, is a key component for the future of e-commerce shopping as brands explore Web3 and metaverse-focused marketing methods.
Nfinite’s raises comes after an impressive year for the startup in which it saw 10x growth in its annual recurring revenue, according to a company statement. The startup backs its services through computer-generated imagery technology that brands can use to build digital asset libraries of their merchandise.
The company’s SaaS-based visual e-merchandising platform creates photorealistic images and then surfaces those images through an online tool that allows retailers to create, style, change, test and personalize the images they show their customers. Nfinite intends to help brands create better shopping experiences.
“E-commerce is growing at unprecedented rates and the competition to win buyers online is higher than ever,” de Vigan said. “Consumers have lots of options and typically choose to buy from brands they trust and who provide great digital experiences.”