Nike Acquires Israeli Computer Vision Startup Invertex

Nike has acquired Tel Aviv-based fashion technology startup Invertex Ltd. in an effort to expand its digital technology expertise, the American fashion brand announced on Tuesday.

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“The acquisition of Invertex will deepen our bench of digital talent and further our capabilities in computer vision and artificial intelligence,” Nike’s chief digital officer, Adam Sussman, said in a statement.

Invertex’s technology allows customers to scan their bodies and get size recommendations for shoes and clothes. The company's software can run on in-store tablets or through mobile applications for at-home shopping.

Founded in 2014, Invertex raised $2 million dollars in April 2017 in a funding round led by Jerusalem-based equity crowdfunding venture capital firm OurCrowd with participation from fashion company Permoda Ltda.

“Nike’s connection to and understanding of their consumer is unsurpassed and we look forward to joining their team,” Invertex CEO David Bleicher said in a statement.