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Capital Raising

3D body scanning startup Bodd is tackling a $950 billion problem for fashion retailers

- October 7, 2021 2 MIN READ
The Bodd team in 2021's must have fashion accessory: facemasks.
Tech startup Bodd is expanding distribution of its Australian made 3D body scanning and sizing technology to global markets and its on the hunt for investors to back its unique idea.

Bodd uses data from 3D scans to create better retail experiences for both consumers and brands in the fashion, uniform, gym and pharmacy sectors. A non-intrusive, 60-second scanner, manufactured in Australia by Bosch, captures all the data needed to make a body “passport”.

It enables companies, provided the owner has given them permission to use the data, to make tailored offers from clothing to product recommendations and personalised health outcomes.

The Melbourne-based startup is looking to raise additional capital to scale up its team for a move into the North American, European and Southeast Asian markets.

Bodd CEO and co-founder Rob Fisher said supporting local manufacturing is a key focus for the company.

“We’re incredibly proud of our data software and scanning technology. We’ve had significant assistance from Australian universities and research centres, in particular Sydney’s UTS, which demonstrates the immense talent and capabilities we have here at home,” he said.

“We have some really great clients that are invested in supporting local. Stewart and Heaton is a leader in uniforms for local fire and protective services here in Australia, fitting out hundreds of thousands per year. Thread Group Australia as another example is an up and coming uniform manufacturer that designs and makes Australian made, ethically sourced uniforms and only works with companies that exercise socially and environmentally responsible practices – a huge tick for us.”

Bodd

The Bodd scanner in action.

Fellow co-founder and Bodd’s CTO Dave McLaughlin said sustainability is equally important and the company’s goal is to build the world’s largest dataset of usable body scans to tackle sustainability issues such as returns due to incorrect sizing.

“Returns due to sizing cost e-commerce clothing retailers $500 billion in returns and in-store retailers $450 billion,” he said.

“We know our product can go a long way to reduce returns, helping to address the global and systemic issue of waste in fashion, with less garments being sent back and destroyed.”

Bodd has engaged accounting and advisory firm William Buck to lead its upcoming capital raise as it looks to go global.

Fisher said William Buck had helped them achieve substantial business maturity over the last 18 months.

“We’ve appointed a North American and European distributor and we’re ready to enter global markets with our unmatched Australian product,” he said.

William Buck’s director of corporate advisory, Tony Hood said Bodd’s product has significant long-term revenue growth opportunities.

“Some of the first companies to deploy Bodd’s scanners have received outstanding results, which are testament to the company’s international potential,” he said.

“Uniform companies working with Bodd have in some cases, received a 200% return on investment while fashion brands have seen their in-store conversion rates double. Having the support and backing of an exceptional partner in Bosch is a further indication of Bodd’s massive potential.”

In Melbourne, Bodd’s product has helped correctly fit more than 2000 tailored suits, including for AFL stars Mason Cox and Max Gawn, captain of the 2021 premiership winning Melbourne Demons.