INNOVATING THROUGH CROWDFUNDING: THE NIKE CASE
How can we use crowdfunding to innovate? This is one of the questions companies ask more frequently. Of course, it depends as there are many ways.
For instance, through a buyout as the superbrand Nike did by acquiring the 3D Israeli fashion-tech Invertex, which had raised $2 million in seed funding round to develop retail footwear technology on one of the leading equity crowdfunding platforms in the world, OurCrowd which achieved, including this, 20 exits in five years.
INVERTEX: A FASHION-TECH STARTUP
Invertex, the company states, is a leading provider of scan-to-fit guided shopping experience platforms that combine advanced 3D-digitization and deep-learning technologies to deliver tailored solutions for in store, at home and online audiences. Invertex’s comprehensive platform enables retailers to significantly improve their online sales-capabilities by lowering returns by empowering customers to trust and enjoy their e-commerce experience. The company’s clients also have the capacity to tailor their existing product lines to their customers’ specific needs.
WHAT’S IN IT FOR NIKE?
Main aim of the strategic move is to continue strengthen the company’s digital platforms as confirmed by Adam Sussman, Nike Chief Digital Officer:
The acquisition of Invertex will deepen our bench of digital talent and further our capabilities in computer vision and artificial intelligence as we create the most compelling Nike consumer experience at every touch point.
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