Daily Newsletter

02 August 2024

Daily Newsletter

02 August 2024

AI footwear firm IAMBIC secures $1m grant to scale operations

AI precision-fit footwear developer IAMBIC has secured a $1m grant from the National Science Foundation (NSF) Small Business Innovation Research (SBIR) programme to help scale its technology.

Hannah Abdulla August 02 2024

IAMBIC's sizeless, precision-fit footwear driven by proprietary AI algorithms is disrupting the traditional footwear industry.

Co-founders Maeve Wang (CEO) and Chaudhry Raza Hassan (CTO), have spent over four years building and perfecting their proprietary approach to footwear, using robust AI technology and science-led, data-driven design features — for a shoe crafted precisely to the individual’s foot shape and biomechanics.

They say the funding will allow it to scale its cutting-edge precision-fit shoe design and manufacturing, setting the stage for transformative changes in footwear and fashion.

NSF accelerates the translation of emerging technologies into transformative new products and services,” said Erwin Gianchandani, NSF assistant director for technology, innovation and partnerships. “We take great pride in funding deep-technology start-ups and small businesses that will shape science and engineering results into meaningful solutions for today and tomorrow.”

The precision-fit technology promises to disrupt traditional manufacturing methods, leading to a more efficient, sustainable, and health-focused industry. This funding will facilitate the expansion of IAMBIC’s capabilities, bringing AI-tailored shoes to a broader market, working with other footwear and fashion brands and paving the way for mass personalisation.

“This sets the stage for our next phase of growth as we scale manufacturing, expand our innovative product collection, and grow our footprint through exciting industry collaborations,” said Wang.

“We are thrilled to be delivering our precision-fit shoes to customers now,” said Wang. “Our shoes are designed to be truly personalised, and we believe IAMBIC breaks the mould with the power of data, science, and technology.”

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