[Funding alert] Stockholm-based eComID Raises €2.75 Million in Pre-Seed Round Funding

The funding infusion will enable it to extend its invitation-only solution to a wider variety of brands and enhance platform capabilities.

eComID was founded in 2023 by a group of technologists from Sweden, Spain, and Venezuela who had previously led digital retail and were committed to working together to change the returns industry.

After noticing a rise in product returns, the team decided to bring retailers together to support ecologically responsible and more conscientious online buying.

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The technology from it enables shops to minimize needless returns by encouraging educated purchasing. The business encourages conscientious shopping habits and incentivizes consumers to adopt sustainable practices. More than a million consumers use it every day since it launched in November 2023.

Oscar Rundqvist, CEO of eComID said, “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,”.

Founding Partners at CapitalT, Janneke Niessen and Eva de Mol, commented: “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 behavior 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!”

Nanna Andersen, Chief of H&M Group New Growth & Ventures said, “We’re delighted to extend our partnership with eComID through this follow-on investment, continuing to support their mission to unite the fashion industry in addressing the product returns challenge together. With eComID’s innovative technology, we foresee the potential for a more sustainable era in online shopping. We’re eager to see the team’s continued progress and the positive impact of their solution,”.

About eComID

eComID, It's time for them to collaborate to develop fresh approaches to encouraging environmentally friendly, commercially-friendly, and customer-friendly online shopping practices. They enable international e-tailers to lower their online return rates, lessen their environmental impact, and assist customers in finding and purchasing goods they will genuinely like.

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