London, United Kingdom-based and Turkish-founded startup behind an AI-driven pattern design tool, Myth.ai raised EUR 1.2 million in seed funding. The round took place on December 12, 2023. Angel investors such as Birkan Kül of Getir.com, Emre Kozlu and the founder of Turkish textiles firm Faik Ulutas led the financing for the company.
Purpose of financing for Myth.ai
With the latest financing, Myth.ai seeks to drive operations in the United Kingdom. Meanwhile, the company has plans to explore new markets.
Since launching in the UK earlier in the year, the funding intends to expand operations further into the UK. It seeks to explore new markets, allowing the business to diversify from the current focus on application in textiles as well as interior pattern creation.
The company also seeks to take its offering into Asia as well as USA is also on the agenda, aiming to embark on the expansion in 2024.
What the company’s official has to add
Özgecan Üstgül, CEO and Founder of Myth.AI said, “Our technology currently allows brands to create distinctive patterns within minutes, setting them apart in an industry often reliant on fabric suppliers. By drastically streamlining the process, we’re not only enhancing efficiency but also addressing fashion’s sustainability issues by significantly reducing fabric swatches and prototypes. However, this significant investment round marks a pivotal moment in our journey beyond textile and interior pattern tech, and both my team and investors are excited to see how this innovation will help across new markets.”
What the investors have to comment
Emre Kozlu, Director of Strategy & Program Delivery at Philip Morris International, said, “I’ve had the pleasure to watch Myth.AI evolve from an early-stage start-up into a true AI business that is active in multiple verticals, nurturing sustainable strategic partnerships and, most importantly, building a formidable, unique product based on real customer pain points.”
Co-founder of Getir, Birkan Kül, further added, “Myth.AI’s founder really impressed me, and I saw a very successful entrepreneur who knew what she wanted to do. I was already investing in startups in many places, but Özgecan was different; her endless energy, down-to-earth and confident attitude are very important founder characteristics. I’m looking forward to walking the road together.”
In addition, Faik Ulutas, Founder of Mensa Textiles, said, “Myth.AI has the potential to produce the products and patterns that the publicly traded textile company I manage has developed with great care and effort over 50 years in a very short time and at very low costs.”
About Myth.ai
Özgecan Üstgül is the CEO and the Founder of the company. Myth.AI is an artificial intelligence-based state-of-the-art pattern design tool that brings together designers and businesses.
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