Nike, Inc. has acquired Israeli startup Invertex Ltd., a developer of computer vision technologies, in a bid to strengthen its hold on digital technologies, the US maker of sports shoes said in a statement.
The Israeli team “will focus on building groundbreaking innovations to help Nike serve millions of members around the globe,” the statement, released by Nike on April 9, said. Terms of the deal were not disclosed.
The Tel Aviv-based startup has developed a technology that it hopes will revolutionize the way people buy shoes, using artificial intelligence and 3D imaging technology to analyze users’ feet in stores and to suggest models and sizes that would fit best. The software can also help with online shopping, enabling smartphones to scan feet via an app and making suggestions about what would be the best buy.
A year ago the Israeli company said it closed a $2 million seed funding round, led by the Jerusalem-based equity crowdfunding VC OurCrowd. Permoda, an international retail and fashion group, also participated in the round together with other angel investors, the company said.
“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,” Nike chief digital officer Adam Sussman said in the statement.
“Nike’s connection to and understanding of their consumer is unsurpassed and we look forward to joining their team,” said David Bleicher, the CEO of Invertex, who founded the firm in 2015.