Jori offers a multi-modal artificial intelligence (AI) and machine learning (ML) platform with the goal of circularity in fashion. According to the information reported, it received investment from Startupfon. However, it should be noted that the financial details of the investment and Jori’s valuation were not shared with the press.
What do we know about Jori? It was founded in the USA this year. It aims to shape the future of fashion retailing by reducing the high costs and errors associated with processing end-consumer fashion garments for resale and recycling around the world. The startup’s multi-modal machine learning models aim to quantitatively assess the variety, quality and intrinsic value of textiles.
The startup aims to rapidly integrate into the textile market, which is worth $ 610.91 billion. It will also enable brands that cooperate with it to identify products suitable for resale and recyclable products faster by eliminating inefficiencies in manual processes.
They will benefit from tax advantages within the scope of compliance with regulations in the US and EU. Jori Founder Selen Uğuroğlu stated that they are in close dialogue with the leading players of the textile industry in America, their primary market. She stated that the investment will be used to expand the Jori team and support their strategy to make an effective entry into the market.
Selen’s proven achievements in ML and AI reinforce our confidence in the successful implementation of this new technology, which is much needed in resale and recycling in the fashion industry. We are very excited to be an investor of Jori as Startupfon, expressing our belief that this valuable initiative developed for circular economy and sustainability will gain a strong position in the ecosystem.Gülsüm Çıracı, General Partner of Startupfon