Lithuanian venture capital firm Practica Capital announces investing €200 000 in a new fashion company, Newstory. Newstory is an online platform that works based on an algorithm which enables identifying woman’s body shape and helps the customers to choose form-fitting clothes and matching accessories.
“Each woman’s body is different in shape and has certain unique features. To look stylish everywhere and always, women need to understand their body shape, and learn how to choose the right clothes to highlight the advantages of their silhouette and to hide its flaws. Even dressed in the most fashionable clothing of the season, a woman can go wrong if she does not assess whether such clothes are in fact suitable for her type of body”, says Indrė Deksnytė, the Co-founder ofNewstory.
The platform developed while participating in Lithuanian Startup.Itaccelerator is available at the moment in Baltic countries, Sweden and UK. The London based company is working currently in cooperation with over 40 brands, and they’re planning to introduce the platform to women also in other European countries.
“With the investment and help of Practica Capital we have taken another significant step towards the realisation of our ideas, dealing with an issue that is particularly relevant for every woman”, states Deksnytė.