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Female founded UK fashtech startup Hey Savi raises £2.2M pre-seed investment
Hey Savi, the UK-based fashion search and recommendation platform, has announced a £2.2 million investment. This significant pre-seed funding round marks one of the largest for an all-female founded tech startup in the UK.
Leveraging advanced AI and unique fashion data, Hey Savi aims to revolutionise the online shopping experience, offering users a highly personalised way to find and purchase their perfect outfits.
Founded by Victoria Peppiatt, Angela Vinci, and Sarah Daniel, Hey Savi is driven by a trio of seasoned entrepreneurs. Victoria, previously recognised as Tech Entrepreneur of the Year by Management Today, is a second-time tech founder, investor, and non-executive director, having successfully exited her previous startup, Phrasee, in 2022. Angela has a track record of developing top-tier consumer products for global brands like Farfetch, Gap, Sephora, Vinted, and Apple. Sarah, former Global CEO of Prominate, brings extensive experience in scaling profitable businesses internationally.
The founders identified a massive market opportunity and a clear customer demand for a more personalised online shopping experience. With over 10,000 fashion searches made every minute in the UK, the stagnant search functionalities of online shopping platforms are ripe for disruption. The convergence of AI and evolving customer expectations presents a unique chance to transform how shoppers connect with retailers.
Hey Savi's funding will drive the development of its AI-powered platform, aiming to provide a seamless, personalised shopping experience that ensures customers find their ideal outfits on the first try, every time.
Angela Vinci, Co-founder and Chief Product and Technology Officer (CPTO) at Hey Savi commented: “The challenge consumers face today is that search engines will always prioritise their business models of paid for advertising, rather than delivering relevant results.”
She continued: “The search experience is outdated and not fit for today’s fast-paced fashion environment. We are creating an experience customers will love and that will give them confidence in their choices. Hey Savi’s unique platform is built by an industry leading, fully female product team, and is perfectly timed to reignite the way customers engage with retailers online, unlocking millions in new revenue.”
Co-founder and Co-CEO, Sarah Daniel, added: “As a leadership team, our combined experience is incredibly compelling. As we build the company from the ground up - our ethos to deliver a ‘people-first’ culture, along with product excellence, will stand us apart from closest competitors in this space and will be the engine to drive our business in the UK and globally.”
Victoria Peppiatt, Co-founder and Co-CEO, commented on the funding: “The response to our raise has been phenomenal. The huge support we’ve received from high profile investors, including well respected angels from Boardwave, Founders Capital and the WITSEND community, has both validated the potential of our product and reaffirmed the market opportunity. On top of which, we are incredibly proud of the fact that 54% of our investors are female.”
Hey Savi is supported by an industry leading advisory board including Gareth Jones, Chief Marketing Officer at Sotheby’s, ex-CMO at eBay and Farfetch, Robin Sutara, Chief Data Officer at Databricks, ex-Chief Data Officer at Microsoft and Richard Goold, Partner at Wilson Sonsini.