eComID Secures €2.75M Pre-Seed Funding to Revolutionize Retail Returns and Sustainable Shopping

by

eComID, a retailtech startup dedicated to transforming the product returns landscape, announced the successful closure of an oversubscribed €2.75 million Pre-Seed round this week. Founded by a team of former retail digital leaders and engineers from Sweden, Spain, and Venezuela, eComID aims to empower retailers to incentivize informed purchases while minimizing unnecessary returns.

The company’s technology rewards customers for sustainable practices and fosters conscious shopping habits, ultimately reducing the environmental impact of returns. Since its launch in November 2023, eComID has gained traction and is now embraced by over 1 million shoppers daily.

The funding round was led by CapitalT, with a follow-on investment from H&M Group Ventures and strategic angel investors, including Anaheta Berenberg-Consbruch, Vice President at the LEGO Group, and Madeleine Persson, a seasoned retail and fashion industry expert.

Oscar Rundqvist, CEO of eComID, expressed enthusiasm about the co-founding team’s capabilities and the company’s mission to address the complexities of returns in the fashion industry. He highlighted the strategic partnership with CapitalT and H&M Group Ventures as instrumental in amplifying eComID’s momentum.

Founding Partners at CapitalT, Janneke Niessen, and Eva de Mol, commended eComID’s proactive solution, emphasizing the founding team’s passion, grit, and early traction. They welcomed eComID as the first Swedish member of the CapitalT family.

Nanna Andersen, Chief of H&M Group New Growth and Ventures, expressed delight in extending the partnership with eComID and supporting their mission to address the product returns challenge. She emphasized the potential for a more sustainable era in online shopping with eComID’s innovative technology.

The funding infusion will enable eComID to expand platform capabilities and extend its solution to a broader range of brands, further advancing its mission to transform retail returns and promote sustainable shopping practices.

Related Stories

Latest News Stories