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Obsess generates $3.4 million in seed funds

31
Oct '20
Pic: Obsessar
Pic: Obsessar
Obsess, a leading experiential e-commerce platform that enables brands to create interactive, shoppable online virtual stores and showrooms, has raised a funding of $3.4 million. It recently closed a seed funding round led by Venture Reality Fund, WXR Fund and Jump Capital. Obsess has created fully shoppable virtual store experiences for leading retailers.

These retailers include Coach, Charlotte Tilbury, Diesel, Party City, Sam’s Club and Tommy Hilfiger.

“E-commerce shopping is surging due to the pandemic and savvy retailers know they need to offer a differentiated online experience to attract and convert customers, especially as we head into the holiday season,” said Neha Singh, founder and CEO of Obsess. “Our platform allows brands and retailers across the fashion, beauty, home, electronics and telecom categories to create visually appealing, immersive shoppable experiences that fundamentally change the way they engage with their customers.”

Obsess uses virtual and augmented reality to digitise retail stores and showrooms, creating memorable, branded virtual experiences for consumers and wholesale buyers. These photorealistic, immersive online shops have been demonstrated to drive discovery, engagement, clickthrough, session duration, average order value and conversion for leading retailers. As foot traffic in physical stores remains depressed in many regions, Obsess is giving retailers a way to extend pop-ups and other branded experiences to a broader audience online.

Charlotte Tilbury is using the Obsess platform to launch a virtual Beauty Secrets store exclusively on CharlotteTilbury.com. “We have always been a digital first brand; it’s at the heart of everything we do, so by launching this virtual store, we are truly operating as an omnichannel business and offering our customers an immersive, 360-degree experience whenever and wherever they come into contact with the brand,” said Charlotte Tilbury, the brand’s founder. “The Obsess platform has enabled us to seamlessly create a quick, easy and personalised way to shop for beauty, skincare and gifts with game-changing 3D digital innovation.”

The Charlotte Tilbury virtual store is an immersive, three-dimensional shopping world where customers are guided by a Magic Charlotte avatar to experience the theatre and magic of an in-store visit from the comfort of their own home. Within the virtual store, customers can explore, shop, receive personalised advice and product recommendations, join live events with Tilbury and special guests, watch makeup and skincare tutorials, and even invite a friend to join them on a video call, so they can shop together.

“Experiential retail will be a huge driver of e-commerce growth in the coming years,” said Martina Welkhoff, managing partner at the WXR Fund. “The Obsess platform is like no other technology we’ve seen in this space. While the company is already working with top names in fashion, beauty, home goods and electronics, the potential to expand into other verticals is significant. We’re confident that Neha’s unique combination of retail industry and technology experience will enable Obsess to continue to grow under her leadership and that more retailers and brands will quickly realise how critical it is to offer a unique and innovative e-commerce experience.”

Fibre2Fashion News Desk (SV)


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