London-based Myth.AI has successfully closed a €1.2 million funding round, backed by a trio of angel investors, including Getir.com’s Birkan Kül, Emre Kozlu, and Faik Ulutas, founder of Turkish textiles firm Mensa Textiles. The startup, originally established to enhance the founder’s high-end fashion line Women&Women, now offers a groundbreaking AI-driven pattern design tool that efficiently generates unique patterns for brands across Europe. This innovative technology not only expedites the design process but also contributes to sustainability by reducing the reliance on fabric swatch samples that often end up in landfills.
Myth.AI, headquartered in London and founded in Turkey, has already made significant strides in the European textile design industry, valued at an estimated $161.4 billion. Renowned brands such as Ratti (Italy), Telater (Spain), Sun Textile, Elyaf Textile, Gama Textile, Zorlu Textile, and Halmer Fabric (Turkey) are among those leveraging the benefits of Myth.AI’s generative AI solution. Even the ceramic industry giant, Vitra, has embraced this cutting-edge technology.
CEO and Founder of Myth.AI, Özgecan Üstgül, expressed the transformative impact of their technology on the industry, stating, “Our technology enables brands to create distinct patterns within minutes, setting them apart in an industry often reliant on fabric suppliers.” The recent funding infusion marks a crucial milestone in Myth.AI’s evolution, propelling them beyond textile and interior pattern technology. The company is poised to expand its operations in the UK, tapping into new markets, and has ambitious plans to venture into Asia and the USA in 2024.
Emre Kozlu, Director Strategy & Program Delivery at Philip Morris International, commended Myth.AI’s evolution, noting its evolution from an early-stage startup to a versatile AI business with a focus on sustainable strategic partnerships. Birkan Kül, Co-founder of Getir, highlighted Özgecan’s exceptional entrepreneurial spirit, while Faik Ulutas, Founder of Mensa Textiles, recognized Myth.AI’s potential to revolutionize product and pattern development in a cost-effective and time-efficient manner.
