This post is by Sarah Perez from Fundings & Exits – TechCrunch

Retail giant Walmart announced this morning it’s acquiring the Tel Aviv-based startup Zeekit, which allows consumers to virtually “try on” clothing when shopping online. The company leverages a combination of real-time image processing, computer vision, deep learning and other A.I. technology to show shoppers how they would look in an item by way of a simulation that takes into account body dimensions, fit, size, and even the fabric of the garment itself.

Deal terms were not disclosed. According to data from Pitchbook, Zeekit had raised over $24 million in outside capital, but we’ve confirmed that’s inaccurate. Zeekit raised a $9 million Series A in 2016, and has raised a total of $16 million since 2014.

The company had already been working with a range of retailers and brands ahead of the acquisition, including Walmart, as well Macy’s, Asos, Tommy Hilfiger, Adidas, and others. It had once worked with Rebecca Minkoff during Fashion Week to help women shop the show’s looks.

Zeekit had been founded in 2013 by CEO Yael Vizel, VP of Research and Development Nir Appleboim and CTO Alon Kristal, with the premise that if online shoppers could see how clothing would look on their own bodies, the technology could reduce the rate of returns due to non-fitting, non-flattering items.

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Walmart says customers will be able to use the Zeekit technology to virtually try on items brands including Free People, Champion, Levi’s Strauss, ELOQUII Elements, Free Assembly, Scoop, Sofia Jeans by Sofia Vergara, plus its own (Read more…)