Stockholm-based eComID, a climate tech startup, announced on Monday that it has secured €2.75M in an oversubscribed pre-seed round of funding led by CapitalT with support from follow-on investment from H&M Group Ventures, and strategic angel investors.
The strategic angel investors include:
- Anaheta Berenberg-Consbruch, Vice President at the LEGO Group and former Director at Zalando
- Madeleine Persson, an experienced retail and fashion industry expert and former H&M Managing Director; currently working as a senior advisor, board member, and executive mentor for renowned brands across the globe.
The Swedish company will use the funds to expand its platform capabilities and extend its solution to a broader range of brands.
“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,” says Oscar Rundqvist, CEO of eComID.
eComID: Working towards reducing product returns
eComID is founded by former retail digital leaders and engineers — Otto Nordgren, Alexander Real, Alexander Gårdenberg, Jaime Ferrando, Patrick Rengifo, and Oscar Rundqvist.
The company helps the fashion industry reduce online product returns, minimise its environmental impact, and assist shoppers in discovering and purchasing products they will love.
Since its launch in November 2023, eComID has now been embraced by over 1 million shoppers daily.
The company’s model rewards customers toward sustainable practices and fosters conscious shopping habits.
The investor
CapitalT is the first female-led tech VC fund in the Netherlands that focuses on a (pre-)seed fund investing in software companies in climate tech and the future of work. The fund uses a proprietary, science-based model to evaluate teams in a data-driven way.
Founding Partners at CapitalT, Janneke Niessen and Eva de Mol, comment, “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.”
Read the orginal article: https://siliconcanals.com/news/startups/stockholms-ecomid-bags-2-75m/
