Amsterdam-based Decodata Secures Fresh Funding. Six investors, comprising both new and old stock market investors and Stoov-affiliated entrepreneurs, provided backing for the startup.
Anne de Jongh, founder and CEO of Decodata says, “With this group of investors we bring in specialists with even more knowledge about the possibilities of data, international e-commerce and marketplaces. Many people don’t understand the scale of the problem in the interior design industry and why the problem is twofold; On the one hand, there is an automation backlog and on the other hand, CO2 emissions in the interior design industry are many times greater than in fashion, partly due to the old-fashioned way of data processing.”
Eric Mencke, CCO and co-founder, highlights the round’s strategic nature. He says, “In recent times we have learned that the timing of a financing round is more important than ever in the current investment climate. While investors were queuing up until 2022 for SaaS companies with a working product, product-market fit and paying customers, the situation is now different.”
With the help of this funding and internal knowledge, Decodata hopes to become the industry leadership in product data for the furniture sector.
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More than ever, the government-mandated Corporate Sustainability Reporting Directive (CSRD) supports the veracity of product origin data. Companies who have a firm grasp of this, according to Decodata, will surpass rivals.
Decodata minimises the necessity for laborious manual operations by automating and streamlining the process in order to address this problem. It organises internal product specs into a file type that may be easily loaded into online retailers’ web stores.
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