Vilnius-based startup Commody has raised €500,000 in pre-seed funding to develop a platform that allows users to co-own collectible and historic cars through digital ownership. The funding round includes contributions from Firstpick, Coinvest Capital, and private investors, and will help the company enhance its platform and expand its user base, initially focusing on Western Europe and Scandinavia. By using NFT technology to register ownership, Commody aims to democratize access to rare cars, traditionally reserved for affluent collectors, and tap into the €800 billion global collectible car market.
Founded in 2023, Commody focuses on making collectible and historic car ownership accessible to a broader audience through a digital-first co-ownership platform. By leveraging NFT technology, Commody allows car enthusiasts to own fractional shares in rare and iconic vehicles, eliminating the high costs and logistical challenges typically associated with traditional car collecting.
According to Commody’s founder, financial expert and investor Vilius Oškeliūnas, the investment will fuel further development of the platform’s core functionality and support audience growth, with an initial focus on Western Europe and Scandinavia. Over the next five years, the platform aims to reach more than 700,000 users globally.
The global collectible car market is estimated at around €800 billion, with annual sales reaching €40 billion. Historically, access to this world was reserved for a small number of affluent collectors.
“Collectible cars are more than just machines – they’re history on wheels, mechanical artistry, and an emotional connection across generations. Commody allows car lovers to own a part of something legendary. Just like Spotify changed how we consume music, we’re reimagining collecting. Commody brings car collecting into the digital age – with real ownership, zero logistics, and your entire collection right in your pocket,” says Oškeliūnas.
Ownership begins from just €25, enabling users to start building a dream car collection from their phone, join a passionate community, and enjoy the thrill of collecting with zero obligations. All storage, insurance, and maintenance costs are covered by the primary owner, while users enjoy the benefits of co-ownership without the responsibility.
Using NFT technology, Commody links collectible car units to each user’s ownership stake, with legal registration in the national vehicle registry. This ensures full traceability and legitimacy while keeping the experience seamless and digital.
Viktorija Trimbel, Managing Director at Coinvest Capital, says: “As someone passionate about tech innovation and cars, I found Commody’s approach to disrupting a tradition-heavy and exclusive market with NFT technology incredibly compelling. The team has a proven track record in financial markets, and we believe Commody is uniquely positioned for strong, scalable growth. That made it an easy and confident decision for our investment committee.”
Dmitrij Sosunov, Partner at Firstpick, adds: “This innovative model is already making it possible for the broader public to access fractional ownership of real estate, fine art, and now – thanks to Commody – collectible cars. We believe the team is paving the way for millions of enthusiasts to participate in car collecting like never before.”
Once registered, users can explore a curated selection of collectible cars, each featuring detailed descriptions, high-quality photos, documentation, ownership history, and historical valuation trends. The ability to acquire collectible car units will be introduced in the near future, supported by the platform’s ongoing development.
“We’re building a new kind of ownership experience – one that combines emotional fulfillment with long-term value. Collectors will not only enjoy access to rare vehicles, but also the potential for value appreciation. Commody brings car collecting into the digital age – with real ownership, zero logistics, and your entire collection right in your pocket,” adds Oškeliūnas. “Not everyone can drive an icon, but anyone can own one.”
Commody recently introduced its first featured car – a rare 2003 Porsche 911 Turbo (996), valued at €149,000, which quickly captured the attention of enthusiasts eager to reserve their units. As the platform evolves, Commody is actively partnering with collectors and institutions to list exclusive vehicles, ensuring a broad and high-quality offering for its growing user base.
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Read the orginal article: https://arcticstartup.com/commody-raises-e500k-pre-seed/
