Nike Ready to ‘Just Do It’ with Israeli Fashion-Tech Firm

Trailblazing footwear company Nike recently purchased an Israel startup that is pioneering technology to transform the online shoe shopping experience.

By: TPS, with additional reporting by United with Israel Staff

While Israel continues to be a top destination for tech giants like Intel and Motorola seeking talent and innovation, it appears that leaders in other industries have also come knocking as of late.

Sports shoes and apparel giant Nike, for example, just 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 crowdfunding 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 commented, “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.”

While Nike is well-known for pioneering new footwear technology, such as its “air” soles, it appears that the Oregon-based company is also ready to innovate when it comes to online platforms to sell its shoes.