Nike Ac­quires Is­raeli Fash­ion-Tech Firm In­ver­tex

The Jewish Voice - - ISRAEL - By: TPS (TPS)

Sports shoes and ap­parel gi­ant Nike has ac­quired In­ver­tex, a Tel Aviv-based com­puter vi­sion firm that de­vel­ops scan-to-fit shop­ping plat­forms.

The fash­ion tech com­pany re­cently launched ScanMat, a 3D scan­ning de­vice that uses deep learn­ing to help cus­tomers de­ter­mine the right shoe size.

Fi­nan­cial de­tails of the deal were not re­vealed. In­ver­tex raised $2 mil­lion in seed cap­i­tal last year in a fund­ing round led by Jerusalem-based eq­uity crowd fund­ing VC OurCrowd, along with in­ter­na­tional re­tail and fash­ion group Per­moda and an­gel in­vestors.

“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,” said Nike Chief Dig­i­tal Of­fi­cer, Adam Suss­man.

In­ver­tex CEO David Ble­icher said: “Nike's con­nec­tion to and un­der­stand­ing of their consumer is un­sur­passed and we look for­ward to join­ing their team to help drive the Consumer Di­rect Of­fense.”

In yet an­other busi­ness re­lated de­vel­op­ment, China's Zhong­guan­cun Sci­ence Park (Z-Park) in Bei­jing, known as “China's Sil­i­con Val­ley,” will open a li­ai­son of­fice in Tel Aviv, the Global Times, an English-lan­guage Chi­nese daily, re­ported Tuesday.

The an­nounce­ment of the planned li­ai­son of­fice was made in a meet­ing be­tween Tel Aviv deputy mayor Doron Sapir and his Bei­jing coun­ter­part Yin He­jun.

“We are thrilled to an­nounce this li­ai­son of­fice in Tel Aviv, which is the cen­ter of the Is­raeli ecosys­tem, as an­other step in the co­op­er­a­tion be­tween our cities,” Yin said, adding that Z-Park is “home to in­no­va­tion and break­through tech­nolo­gies.”

Zhong­guan­cun Sci­ence Park is home to nearly 20,000 hitech en­ter­prises, in­clud­ing tech giants like Len­ovo and Baidu. It has has 10 satel­lite of­fices around the world, in­clud­ing in Sil­i­con Val­ley, Wash­ing­ton, Tokyo, Toronto and Lon­don. The com­bined turnover of en­ter­prises in the park in 2017 was al­most $800 bil­lion.

Yin said that it was Tel Aviv's ” in­no­va­tion and open­ness to new ideas” that had at­tracted Z-Park to open its 11th over­seas li­ai­son of­fice here.

Sapir said that while Bei­jing and Tel Aviv may be com­pletely dif­fer­ent in size, they “share many com­mon val­ues: adopt­ing tech­nol­ogy and mod­ern­iza­tion, cher­ish­ing ed­u­ca­tion, and striv­ing to al­ways im­prove our mu­nic­i­pal sys­tems.”

“In re­cent years, we've seen dra­matic in­crease in the num­ber of del­e­ga­tions and vis­its from Bei­jing to Tel Aviv and vice versa,” Sapir added.

In­ver­tex, a Tel Aviv-based com­puter vi­sion firm that de­vel­ops scanto-fit shop­ping plat­forms.

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