Originally established in Turkey, Myth.AI's inception was to aid the founder's high-end fashion line, Women&Women. The company now provides a generative AI solution that leverages visual or text prompts to efficiently design unique patterns for European brands. This technology significantly reduces the time required for creating custom designs and promotes sustainable design and production by decreasing the need for fabric swatches that often end up as landfill.

Myth.AI's technology is widely adopted in Europe's textile design sector, valued at an estimated $161.4 billion. Prominent brands, including Ratti (Italy), Telater (Spain), Sun Textile, Elyaf Textile, Gama Textile, Zorlu Textile, Halmer Fabric (Turkey), and the renowned ceramic industry brand, Vitra, are implementing this technology.

With its recent launch in the UK, the investment will facilitate further expansion within the UK and into new markets. This expansion aims to diversify the company's focus from textiles and interior pattern creation, with plans to enter Asian and US markets in 2024.

The investment round featured contributions from a trio of angel investors: Birkan Kül from Getir.com, Emre Kozlu, and Faik Ulutas, founder of a Turkish textiles firm.

Emre Kozlu, Director of Strategy & Program Delivery at Philip Morris International, remarked: “I’ve had the pleasure to watch Myth.AI evolve from an early-stage start-up, into a true AI business that is active in multiple verticals, nurturing sustainable strategic partnerships and most importantly building a formidable, unique product based on real customer pain points.”

Birkan Kül, Co-founder of Getir, shared his investment motivation: “Myth.AI’s founder really impressed me and I saw a very successful entrepreneur who knew what she wanted to do. I was already investing in startups in many places, but Özgecan was different; her endless energy, down-to-earth and confident attitude are very important founder characteristics. I'm looking forward to walking the road together.”

Faik Ulutas, Founder of Mensa Textiles, commented: “Myth.AI has the potential to produce the products and patterns that the publicly traded textile company I manage has developed with great care and effort over 50 years, in a very short time and at very low costs.”

Özgecan Üstgül, CEO and Founder of Myth.AI, spoke about the significance of this funding for the company's future: “Our technology currently allows brands to create distinctive patterns within minutes, setting them apart in an industry often reliant on fabric suppliers. By drastically streamlining the process, we're not only enhancing efficiency but also addressing fashion’s sustainability issues by significantly reducing fabric swatches and prototypes. However, this significant investment round marks a pivotal moment in our journey beyond textile and interior pattern tech and both my team and investors are excited to see how this innovation will help across new markets.”