Stockholm-based eComID, a company that empowers online retailers to minimise product returns through its AI platform, announced that it has secured €2.75M in an oversubscribed pre-seed round of funding.
eComID aims to minimise online fashion returns, reduce environmental impact, and enhance personalised shopping experiences.
Co-founded by Otto Nordgren, Alexander Real, Alexander Gårdenberg, Jaime Ferrando, Patrick Rengifo, and Oscar Rundqvist, eComID’s team combines expertise from key roles at Instabee, Klarna, B-Reel, and H&M, as well as financial experience from Rothschild & Co and Lazard.
The funding will help eComID expand its platform capabilities and extend its previously invitation-only solution to a broader range of brands.
Investors supporting eComID
The round was led by CapitalT, a female-led tech VC fund in the Netherlands, with support from H&M Group Ventures and angel investors including Anaheta Berenberg-Consbruch, LEGO VP, and Madeleine Persson, former H&M MD.
Founding Partners at CapitalT, Janneke Niessen and Eva de Mol, say, “While the eCommerce industry continues growing at an incredible rate, high return rates lead to financial losses for retailers, and have a highly detrimental environmental impact.”
“We were impressed by eComID’s proactive solution – they not only react to customer behaviour but also anticipate and inform it.”
“At CapitalT, we believe that great people make great companies, and eComID’s founding team impressed us from the first meeting with their shared passion, grit, and early traction. We look forward to the next steps and are proud to welcome eComID as the first Swedish member of the CapitalT family!”
Revolutionising retail with AI
Founded in 2023, eComID aims to revolutionise the returns landscape collaboratively. Focused on addressing the growing trend of product returns, the company is on a mission to bring retailers together for a more conscious and environmentally friendly online shopping experience.
eComID’s technology empowers retailers to incentivise informed purchases, minimising unnecessary returns. Since its inception, the company has been embraced by over 1 million daily users.
Oscar Rundqvist, CEO of eComID says, “The eComID co-founding team comprises the best talents I’ve worked with in every field, all driven by warm hearts. I’m eager to continue showcasing what this stellar team can achieve, addressing the complexities of returns in the fashion industry.”
“CapitalT and H&M Group Ventures are the perfect partners to amplify our current momentum, with retailers already expressing keen interest in joining the movement we’re fostering with our technology,” adds Rundqvist.
