According to an entry in the commercial register, which the online portal startup scene Facebook parent company Meta has Munich companies 100 percent. Presize founder and CEO Leon Szeli declined to comment on the purchase price when contacted by Gründerszene.
The Munich-based startup's software measures the user's clothing measurements based on a user's body rotation in front of the smartphone camera. The solution is intended to improve the fit of clothing sold online and thus reduce the number of returns, which represent a huge cost for the industry.
According to the company, Presize scans 55 percent more accurately than its competitors, has over 1,130,000 users, and has already provided more than 90 million size recommendations. Its customers' net sales are expected to increase by around 10 percent through the use of the software.
Presize were able to convince Carsten Maschmeyer in the “Lion’s Den”
With their solution, the founders Leon Szeli and Tomislav Tomov appeared in 2020 on the Vox founder show “The Lion's Den" and were able to convince investor Carsten Maschmeyer to get involved. For €650,000, Maschmeyer received 15 percent of the company's shares. Following the broadcast, Presize expanded the financing round to a total of almost €2 million. After his investment, Carsten Maschmeyer was quoted as saying:
"Presize is the startup I've always wanted to see on 'The Lion's Den'! A highly competent founding team, a real solution to a previously unsolved problem – and all of it based on artificial intelligence technology. It's the second-highest single investment on the show, and I'm very happy to be involved as an investor now. Because Presize will have a huge, positive impact on exchange behavior in the online fashion world in Germany."
