KTH foot scanner technology spinout Volumental has secured cash from Forward VC, Walerud Ventures and Moor Capital after previously closing a seed round in 2014.

Volumental, a Sweden-based 3D foot scanning technology developer spun out from KTH Royal Institute of Technology, has received $1.4m in capital from Forward VC, Walerud Ventures and Moor Capital.

Founded in 2012, Volumental markets a 3D foot scanner that helps consumers find customised shoes by comparing their measurements against an artificial intelligence-powered footwear recommendation database called Fit Engine.

Volumental claims between 85% and 95% of its customers proceed to purchase shoes, with product returns reduced by 25%. It has collected…