Osborne Clarke has advised the two investors EnjoyVenture and Salica Investments on the seed financing round for the RetailTech startup SAIZ.
The Berlin-based startup SAIZ, founded in November 2021, aims to improve clothing size advice in online retail using artificial intelligence (AI). The concept: Customers enter their data when shopping, and the AI then calculates which size fits best for which product. This is intended to improve the accuracy of online orders, leading to greater customer satisfaction, fewer returns, and thus more sustainability.
SAIZ has once again managed to convince several investors of this concept and successfully completed its seed financing round with a total of EUR 2.5 million. Led by EnjoyVenture and Salica Investments, the fresh capital from the round is intended to further improve current technologies and develop new solutions to become the largest player in the market for sizes and fit.
“We have long wanted to invest in this area but had difficulty finding a differentiated solution until we met Svenja and Marita and saw what the team at SAIZ is building,” said Laura Noorani of Salica Investments. Dr Peter Wolff and the team at EnjoyVenture also emphasised that from the moment they learned about the SAIZ solution and its unique approach, they knew they wanted to be part of the SAIZ journey.
The Osborne Clarke team advising EnjoyVenture and Salica Investments, led by Fabian Mimberg under the Partner responsibility of Dr Benjamin Monheim, included Fenja Striesow (all Corporate / VC), Nils Wiehmann, Konstantin Axnick (both Employment), Dr Marc Störing, Neil Simon-Weaver (both Data Protection), Dr Lina Böcker and Dr Carsten Brodersen (both IT).
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