HaoMaiYi

About HaoMaiYi

HaoMaiYi, founded in Shanghai in 2013 by Jinxiang Chai and Zhongsheng Huang, developed a 3D modeling-based virtual fitting tool for the apparel industry. The company aimed to solve the high return rates in clothing e-commerce by allowing users to create a personalized 3D avatar and virtually try on clothes. Users could input their height and weight, and answer a few questions to generate a model that simulated their body shape, providing a more realistic try-on experience.

Co-founder and CEO, Zhongsheng Huang, previously worked at GGV Capital and China Renaissance, where he was involved in significant financing and M&A deals for major tech companies. Co-founder and CTO, Jinxiang Chai, holds a Ph.D. in computer science from Carnegie Mellon University and is a recognized expert in computer graphics and virtual reality. His technical background was instrumental in developing the company's core technology.

HaoMaiYi's business model focused on providing its virtual fitting room technology to apparel brands and e-commerce platforms to enhance the online shopping experience, reduce returns, and increase conversion rates. The technology integrated computer graphics, computer vision, and machine learning. The company secured several rounds of funding, including a CNY 4.5 million angel round upon its founding, a $3 million Series A in July 2014, and a $15 million Series B in August 2015, with investors such as Legend Star, CBC Capital, and New Enterprise Associates (NEA). Despite its initial funding success and technology, the company is now listed as deadpooled.