ELSE Corp startup gets backed by Intesa Sanpaolo
Leading Italian Bank in Support of Technology Innovation for Made in Italy
Milan, May 31, 2017: ELSE Corp, a Virtual Retail startup company based in Milan, has recently signed a medium term loan agreement of Euro 0.5 million with the Italian leading bank Intesa Sanpaolo, granted by Mediocredito Centrale. The funding comes at a pivotal time for the startup, right after their completion of some strategic milestones and presenting the plans for an aggressive and motivated go to market strategy.
ELSE Corp has recently appointed Grant Thornton Consultants as strategic advisor. Grant Thornton, one of a world’s leading consultancy firm, highlighted that it is an integral part of its mission to unlock the customer’s potential, being the reference for dynamic and growing business.
At a moment when they are perfectly ready to enter the market with an already evaluated technology and related to it commercial offer, the bank’s funding proceeds give ELSE Corp the boost needed to bring their Cloud SaaS Platform and other technologies to the next level; while also giving the startup the visibility needed to grow new strategic partnerships and fundraising. Speaking of the immense opportunities this loan brings to ELSE Corp, the startup’s co-founder, CEO & CTO Andrey Golub said
“In the startup environment, you never know when the problems come from next day, and when the support might come from today, therefore one keeps working on many opportunities at a time. So I’m completely satisfied about the operation just completed, and now looking forward at our commercial launch in next months even with more enthusiasm!”
The deal confirms ELSE Corp might be not only a highly promising business case, but also an important element of the global innovation chain for the Made in Italy sector, this operation will open an opportunity for new potential investors of the startup.
It was an intense start to the year, with ELSE Corp participating in a series of B2B events: NRF, Microsoft Forum, Smart Retail Now – to name just a few. They also added two new patents to their bag and just this May, confirmed their participation in the IBM Watson AI XPRIZE, a global challenge where they will be working on their unique and highly innovative project about the Real Time Fashion System, which was also presented by ELSE Corp’s CEO this past week at the Vivaio Visionary Forum. The funding from Intesa San Paolo opens the door to immense opportunity and with it, the startup is set for an exciting year ahead.
For more information: http://www.else-corp.com/
ELSE Corp is an Italian startup based in Milan, founded in 2014. Since then, the company has been working on designing and developing a technologically advanced Cloud SaaS API platform for Virtual Retail or no stock retail for the Apparel & Footwear industry. The platform E.L.S.E., Exclusive Luxury Shopping Experience is aimed at providing an extraordinary Customer & Shopping Experience in 3D (applications, web, mobile apps, Virtual Reality, Augmented and Mixed Reality environments), that supports at its core Mass Customization and cloud based hybrid & distributed Manufacturing services, integrating all their components and processes into brands’ and retailers’ e-commerce, CRM, ERP and PLM systems; from 3D Design and Interactive Visual Merchandising for customized and MTM sales, to on demand production.