SECND

Toronto, Ontario

AI-driven platform simplifying the buying & selling process of second-hand clothing online

Description

SECND is an innovative platform that leverages AI to make online thrifting more accessible for buyers and more profitable for sellers. By integrating AI into the thrifting process, SECND enhances the value recovered from used clothing, preventing waste and mitigating the environmental impact of Fast Fashion… one of the most polluting industries globally! The platform connects local thrift stores to an online shopping interface that is retail-like and personalized for buyers by size and style.

Through its AI-driven sorting, pricing, and quality assurance systems, SECND cuts labor costs in this labor-intensive industry and automates the listing process for sellers, while enhancing the user experience with features like automated product descriptions and reverse image search. This approach ensures that selling second-hand clothing online becomes more lucrative and less time-consuming. SECND is more than just a marketplace; it blends consignment and marketplace models to provide a hybrid solution that optimizes costs and services. The AI-based recommendation engine integrates with user data to provide a customized shopping experience, while the computer vision algorithms ensure accurate recognition of product attributes such as quality, style, and size. This novel combination makes SECND a standout in the growing online thrift market, projected to have a high growth rate (CAGR 23%) and significant demand for automated, sustainable solutions. Financials These efforts will allow SECND to operate for 6 months - scaling up the app's user base and reaching key milestones, such as launching by October, achieving 1,000 monthly sales soon after, and reaching $1M in annual revenue with a projected EBITDA of 29% until the end of 2025.

Impact

Decent work and economic growth

Responsible consumption and production

partnerships for the goals

SECND is committed to revolutionizing the fashion industry by promoting responsible consumption and reducing waste through innovative AI solutions. By streamlining the online thrifting experience, SECND ensures that second-hand clothing becomes a viable and attractive option for both buyers and sellers, thereby significantly reducing the environmental impact of fast fashion. Tangible metrics that SECND tracks to Measure Impact: - 3,781 liters of water saved per thrifted jeans compared to new production. - 33.4 kg of CO2e emissions avoided for each second-hand item sold on the platform. - 100% of clothing waste diverted from landfills by ensuring responsible disposal practices remain in Canada.

Company

Founded in July 2023 in Toronto, Ontario, SECND is focused on revolutionizing the online thrifting market with its AI-driven platform. The company combines elements of both consignment and marketplace models, providing an efficient and sustainable solution for buying and selling second-hand clothing. The team is composed of highly skilled professionals with diverse backgrounds in computer science, machine learning, public policy, and marketing.

The Team

Anirudh Kalia

Co-Founder & CEO

Geoff Yuen

Co-Founder & CTO

Eduard Haertel

Co-Founder & CBO

Teya Knightingale

Marketing & Finance Lead