BlinQ, a Singaporean startup that has built an AR product to let people “try on” e-commerce fashion, announced today it has raised US$2 million in seed investment from a host of unnamed private investors.
BlinQ is in the midst of scaling the platform and the money will be used to finance this goal. It is a very young company, having been launched just over a month ago.
The vision of the company is intertwine an augmented reality ‘fitting room’ with a marketplace to buy luxury retail. The e-commerce platform plans to sell new, used and rental clothes.
Its AR product will work under a white-label business model whereby BlinQ will provide technology to larger e-commerce platforms for their customers to virtually try on clothes. A beta version of the app can be found on the Android Playstore under the name BlinQ Fashion.
Chua told e27 the plan is to go live with the marketplace in May.
Eventually, the company wants to build in a back-end logistics service by fully-automating warehousing, which BlinQ hopes to launch by the end of the year.
Additionally, the startup hired hirings into people in key positions.
Christopher Wong was brought on as the new Chief Financial Officer after spending time at the payments company MOL Global.
Lai Sian Peh, a former employee at Accenture, to be the new Chief of People and he/she (look up) had come from Accenture.
“We are currently in a rapid phase of expansion, and having the right people in place will make all the difference to scaling. I’m excited about the team we’re putting in place, and also for the many other roles we’re about to fill,” said CEO Bob Chua.
From 2005 – 2015, Chua was the Founder and CEO of Pulse Group, an events management company that eventually went IPO on the London PLUS stock exchange. The PLUS exchange was a market for small cap companies that, after a few steps in between, is now part of NEX Group.