New York City-based fashion online information service Sytlesight has received a big $16 million round of funding, from Fidelity Ventures, the VC arm of mutual fund Fidelity Investments. This is the company's first round of funding...founded in 2003, it provides a subscription-based service with trend forecasting and product development tools for the fashion industry professionals. Besides the information tools, it has and image search engine with more than 3 million fashion images, it says. This new money will be used for its international expansion, the company says. In the fashion industry sector, it competes with the likes of WWD and Emap-owned WGSN. More info in the release.
By Rafat Ali