FiTracks has developed a 3D foot measurement system to facilitate virtual show fitting.
Israeli start-up FiTracks has raised $1.5 million from private investors. The financing round was completed in advance of the final development of the company's CRM system for retail chains and shoe manufacturers.
The company's managers include president Noam Danenberg, director Tamir Koch (a founder of Orca Interactive, later acquired by Emblaze Systems (LSE:BLZ)), director Yair Goldfinger (a founder of Mirabilis) and CTO Vladimir Morgenstern (a founder of ViryaNet (Nasdaq: VRYA)).
FiTracks stated it plans to use the capital raised to develop and market its products. The company's beta version of its footwear product is scheduled to be launched in September, by which time FiTracks hopes to raise an additional $2 million.
FiTracks' footwear system uses 3D measuring technology to make a virtual map of the foot to match suitable shoes. The system creates a database of a retailer's shoe inventory and customers' feet which can then be used for focused marketing and efficient inventory management.
FiTracks was founded in August 2000. The company's offices are in Boston and its development center is in Rishon LeZion.
Published by Israel's Business Arena on 21 March 2002