Fashion tech startup StyleDotMe has recently raised funding though various investors to work on their cutting edge B2C product, MirrAR. This unique feature allows consumers to virtually try on jewellery pieces using Augmented Reality technology. With the help of this advanced technology, consumers can obtain a clear idea as to how the product will look on them within the comforts of their home through a specially created app.

Co-founded by Meghna Saraogi and Akhil Tolani in 2016, StyleDotMe is known for its augmented reality product mirrAR, to transform jewellery shopping experiences for consumers. MirrAR can be accessed via iPads and smartphones and users can see themselves in different jewellery products on a larger screen, and can take pictures and share on social media as well.

Speaking on the announcement, Meghna Saraogi, Co-founder at StyleDotMe said, “Jewellery retail in India is an extremely fragmented market. The majority of stores are single stores across the country, with only a handful of regional brands having multiple outlets across states and catering to a pan-India consumer base. Through mirrAR, we will help every jewellery store across the world to enhance the customer experience and ultimately their brand presence.”

Currently, StyleDotMe works with over 60 retailers in 17 cities across India including Tanishq, PC Jewellers, Amrapali, Farah Khan and many more. In 2019, Tanishq and mirrAR by StyleDotMe collaborated towards a zero inventory experience zone set up at the Delhi and Bangalore airports. The tech provides rich user insights to the jeweler not known before using data analytics and artificial intelligence. This allows a retailer to optimise his/her entire value chain across design, manufacturing, operations, marketing and sales.

Speaking on the investment, lead IAN investor, Ambarish Raghuvanshi commented, "It is gratifying to see StyleDotMe evolve from a feature to a full-fledged business efficiency tool over two years. They now solve a real, difficult problem for jewellery stores that is the pain associated with trying out multiple items for customers and the economic costs of carrying inventory. With insight of this sort, they can migrate to creating deep use cases in other industries. Like most successful start-ups they have also been tested with making one or two pivots before arriving at this solution. We are extremely pleased to back Meghna and her colleagues at StyleDotMe.”

By 2020, the company aims to be present in all prominent Tier 1, 2 & 3 cities across the country. According to the startup, the market size of the Indian jewellery industry is stated to be $75 billion as of 2018, whereas it is predicted to grow to $100 billion by 2025.