eComID
eComID is a privately held software development company founded in 2023, based in Stockholm, Sweden. The company focuses on reducing product returns for global online retailers through an AI-powered platform, promoting sustainable shopping behaviors to benefit the environment and industry.
Company Overview
eComID operates in the Software Development industry and was founded in 2023. The company is classified as a privately held entity and has a small team of 9 employees. Headquartered in Stockholm, Sweden, eComID focuses on empowering global online retailers to collaboratively reduce product returns, promoting sustainable online shopping behavior to benefit the environment, industry, and customers.
Mission and Goals
The mission of eComID is to assist the fashion industry in reducing online product returns and minimizing the environmental footprint associated with retail. The company aims to help shoppers discover and purchase products they will genuinely appreciate, thereby decreasing the likelihood of returns. eComID is part of a broader movement to address the online returns dilemma and is dedicated to transforming the returns landscape through collaborative efforts.
Funding and Growth
eComID secured €2.75 million in funding to develop an AI-powered returns reduction platform. This funding round was led by CapitalT, with follow-on investment from H&M Group Ventures and strategic angel investors. The company plans to expand its platform capabilities and extend its solutions to a wider range of brands, with over 100 brands already on the waitlist for early access to the technology.
Technology and Innovation
eComID's technology empowers retailers to incentivize informed purchases, which minimizes unnecessary returns. The platform rewards customers for adopting sustainable practices and encourages conscious shopping habits. Since its launch in November 2023, eComID's solution has been embraced by over 1 million shoppers daily, indicating a strong market acceptance and engagement with its innovative approach to reducing returns.
Sustainability Focus
eComID promotes a sustainable system that benefits both the industry and the environment. The company works with global online retailers to shrink their environmental footprint by reducing online returns. By incentivizing responsible online shopping behavior, eComID aims to foster a culture of sustainability within the retail sector, aligning with its commitment to environmental stewardship.