Ovido Funding News-Helsinki-Based Ovido Secures €2.4M To Democratize Supply Chain Data Management

Along with the funding, the company has launched a new software solution to help businesses manage regulatory compliance, supplier collaboration, and product data more efficiently.

The investment will fuel product development and help expand Ovido’s presence across Europe—starting with the textile industry, one of the first sectors impacted by the EU’s new Digital Product Passport (DPP) regulation.

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In fashion and textiles, data collection for compliance is often fragmented and led by brands, while manufacturers still rely on outdated tools like PDFs, spreadsheets, and legacy ERP systems.

Ovido addresses this gap with a user-friendly, AI-powered platform designed for easy adoption—even by companies with minimal digital infrastructure.

The platform simplifies how businesses collect, manage and share data on traceability, sustainability, and bills of materials, enabling smoother compliance and stronger supply chain collaboration.

Businesses can request information from suppliers without requiring them to register or go through costly onboarding. By automating product data across the value chain, Ovido empowers SMEs with enterprise-level capabilities.

Suvi Haimi, CEO and co-founder of Ovido, said: We started Ovido because manufacturers need a smarter, simpler way to deal with rising compliance demands. Regulations are becoming more complex, but the tools haven’t kept up. Ovido replaces scattered, manual processes with a centralised system that directly supports day-to-day work.

As EU regulations like the Ecodesign for Sustainable Products Regulation (ESPR) raise data requirements, manufacturers are now expected to provide detailed product-level information on sustainability, safety, and recyclability, often gathered from across their supply chain.

Ovido helps simplify this complex process by automating data collection and centralising compliance tasks. Its built-in reporting tools make it easy for companies of all sizes to share essential data with retailers, brands or regulators. Businesses can also create custom technical data sheets tailored to specific client needs—saving time and ensuring accuracy.

Antti Toponen, co-founder of Ovido, added: Regulatory compliance is just the starting point. Once product data is structured and centralised, it becomes a real advantage, driving sustainability, transparency, supplier performance and ultimately, greater profitability. We believe high-quality product data should be a standard tool for every manufacturer, not just the biggest players with custom systems.

Ovido helps companies turn complex regulations into opportunities for digital growth. It offers tools like smart supplier inquiries, a DPP builder, and AI-powered document parsing to simplify compliance and streamline supply chain data.

The funding round was led by Lifeline Ventures and Kvanted, with Illusian also joining in.

Ilkka Paananen, CEO and co-founder of Supercell, and a partner at Illusian, said they’re excited to back Ovido’s mission to transform how companies manage supply chain data.

They're strong founders with a good grasp of both the regulatory landscape and what manufacturers actually need. With the right product and sharp execution, they're in a great position to help companies turn complex requirements into a competitive advantage.

Ovido will use the new funding to grow its team, improve product features, and expand into new sectors like packaging and consumer goods. It has already taken its first steps in the chemical industry, working with Kiilto to automate supply chain data collection.

About Ovido

Founded in 2024, Ovido is a Helsinki-based software company that helps manufacturers and brands manage and share product data. Designed for the era of Digital Product Passports, Ovido makes compliance simple and turns transparency into real action.