Phaistos invests in SafeSize, an innovative technology company

5G Ventures S.A. announces that the Phaistos Investment Fund participated along with international investors, mainly from Europe, in the new round of financing (Series A+) of the Greek company SafeSize. The company specializes in the development of innovative applications (hardware & software) that address existing challenges in the footwear shopping experience.

The new funds will be invested in the research and development of new technological solutions that work in a retail environment and leverage the technological capabilities of advanced 5G networks, as well as in strengthening SafeSize’s presence in international markets.

SafeSize has developed an innovative technology that allows consumers to find the exact shoe size for their foot. Specifically, consumers can create a 3D digital copy of their foot using SafeSize’s advanced ScanMate 3D foot scanner, available in select shops. SafeSize’s algorithm “tests” all shoes on the customer’s foot and offers personalised shoe recommendations with a perfect fit within seconds. SafeSize has also developed the FitMate app for online shopping, which allows consumers to create a digital copy of their foot using their smartphone camera and then select the appropriate shoe size.

Furthermore, SafeSize has also developed a unique 3D shoe scanning technology that creates 3D visualizations for all shoes on the market. Each year SafeSize’s nine facilities in Europe, Asia, and the Americas create digital visualizations for more than 1.5 million shoes of every type. SafeSize is the only company in the world with its own database of internal shoe dimensions.

SafeSize’s solution has helped more than 20 million consumers around the world make the right shoe choice. The company has offices in Greece, the Netherlands, Slovenia, and China and recently expanded its business to Australia and New Zealand. It has customers in 50 countries and these include major footwear chains such as Intersport, Decathlon, Sports Direct, CCC and Xebio.

In addition, in 2021 SafeSize established an Innovation and Development Centre in Athens, with the main focus on designing new innovative products and services.

The technological solutions developed by SafeSize help reduce returns in physical and online stores, significantly improve the shopping experience of consumers and protect the environment by avoiding unnecessary movement of goods is avoided.

The company recently won Elevate Greece’s “Extroversion and Business Development” award.