Kinisis Ventures Fund I, invests $300k in FashionTech

Kinisis Ventures Fund I (KV Fund) is starting the new year with a strategic co-investment that increases its stake in an existing portfolio company, Threedium and adding a new US-based AI-software company Fit:match to the KV Fund portfolio.

Late last year, Threedium closed their $11 million Series A and it continues to expand its international market share, dominating the 3D/AR scalable solutions for global brands. Fit:match’s patented shape-matching technology powers the most accurate 3D experiences currently in the retail and healthcare industries.

Fashion & luxury are industry sectors that continuously push the boundaries of innovation. “They stay at the forefront of technology to keep up with evolving e-commerce experiences and expectations. We saw first-hand, with our initial investment in Threedium, that luxury & fashion push consumer experience technologies to some amazing and innovative applications,” points out Chris Droussiotis of KV Fund. “We also witnessed how some of these very applications spill over into other growing industries and sectors, such as healthcare, wearables, gaming and advertising,” he adds.

There are several reasons why this most recent KV Fund investment delivers strategic value to its existing portfolio. “Adding Fit:match to our portfolio, alongside Threedium, may also present interesting international collaboration opportunities for our Ascanio and Irerobot portfolio companies,” says Yiannos Georgiades of KV Fund. Ascanio’s disruptive software applications and Irerobot’s haptic devices could easily be leveraged across many industries and sectors, including fashion, luxury, retail and e-commerce.

“KV Fund remains steadfast in its commitment to investing in Cypriot ingenuity with commercial relevance and a vision to expand into international markets, primarily the USA,” emphasises Andreas Panayi of KV Fund. “But, while our primary focus is on Cypriot innovation, we are always on the lookout for strategic opportunities that will expand international reach and exposure for our portfolio companies. Co-investing with partners who bring diverse global perspectives and expanded networks align with our strategy for sustained portfolio growth and success," concludes Panayi.