Belle AI’s $150 billion opportunity to personalize online shopping

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“You either shop online and aren’t sure what works for you, or you don’t shop online because you’re not sure what works for you,” explained Dr. Raichelson when describing the motivation for launching Belle AI, a personalized shopping platform. “It all started when my 16-year-old daughter was shopping online at ASOS and found that all five items were not the right size or shape. But here’s the question: which items fit?”

Founded in 2021, the company has been fully bootstrapped while focusing on developing its product and growing its user base. It already has 15,000 users and works with 38 online brands.

dr Lihi Raichelson is CEO and co-founder of BELLE. Photo: PR

Learn more about Belle AI below.

Company ID

Surname: Beautiful AI

Sector: AI

Product/Service Description: Belle AI is a centralized interface system that creates valuable digital identities based on each consumer’s individual characteristics and preferences – a universal user profile.

Founder Bios:

dr Lihi Raichelson is CEO and co-founder of BELLE. She has a Ph.D. in Computer Science and was CSO at StarGo (Chief Science & Technology – AI & ML Solutions and technology expert) as well as Intel’s IT Innovation Leader, Business Analyst.

Ofri Raichelson is the company’s founder and CMO.

Founding year: 2021

Last investment amount: $250,000 (self-financed)

Last investment phase: seed

Total investment so far: $300,000

Investment date: continuation

Investors (leading and all): Bootstrap

Current number of employees: 9

Open positions: 2

Website:

https://belle-ai.com

Social Connections:

Instagram



Facebook

E-mail

Interview:

How did the idea come about?

We solve a well-known problem.

You either shop online and aren’t sure what works for you, or you don’t shop online because you’re not sure what works for you.

It all started when my 16 year old daughter was shopping online at ASOS and found that all five items were not the right size or shape. But here’s the question: which items fit?

What is the need for the product?

During Covid-19, the number of online shops has tripled and currently stands at 24 million (!). In order to survive, companies had to switch from offline to online shops – but in the process they lost touch with their customers and, importantly, the ability to know what would suit their customers based on their color and body shape.

How is it changing the market?

Online fashion is old-fashioned!

Bella creates digital profiles based on each consumer’s unique preferences and characteristics.

With your digital identity, you can shop wherever you want, from your favorite brand, marketplace or even offline stores, and Fit&Size will provide you with recommendations tailored just for you.

How big is the market for the product and who are its main customers?

The e-commerce market is currently worth $10.9 trillion; with online fashion accounting for $150 billion;

The retail returns market is $645 billion, while online returns are $91 billion.

Does the product already exist? If not – what stage is it at and when is it likely to hit the market?

Regarding our B2C product, we launched our marketplace in February 2020. Today 38 online stores have signed us on board including ASOS, Topshop, M&Co; Stradivarius, Pretty Little Things & more. We have 15,000 registered consumers.

Our B2B plugin will be ready by the end of February 2022 and expected to be integrated into 300 SMEs in 2022.

Who are the main competitors in this sector and how big are they?

https://www.stitchfix.com/

https://metal.com/

https://www.truefit.com/en/Home

What added value do the founders bring to the company and the product?

dr Raichelson has almost 30 years of experience in the technology industry, while Ofri Raichelson is a young Gen Z entrepreneur who approaches this business with a real heritage.

What is the money from the round used for?

60% will be devoted to R&D where we will continue developing 3-layer ML algorithms. 40% is used for marketing – both B2B and B2C to help us reach 300 online stores and 250,000 consumers.

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