Starcart, a Helsinki, Finland-based provider of an AI-powered shopping platform, raised a €3.5m amount in Seed funding.
The round was led by Inventure, with participation by Finnish angel investors and Business Finland, which provided a €400K euro R&D loan.
The company intends to use the funds to expand its reach internationally, with launches in multiple new European markets planned for 2024, and to scale up its AI-powered shopping platform, adding hundreds of new stores to Starcart.
Led by Pasi Ilola, Founder and CEO, Starcart provides an AI-powered shopping platform that allows people to buy products from stores, with just one shopping cart. It utilizes AI technology to find the best prices, availability and shipping times for over 15 million products from over 130 stores, while automatically making the purchases for the consumer.
Commenting on the news, Ilola said : “In the near future, we’re planning to also make it easy for consumers to shop sustainably, by introducing second-hand stores, and recommending sustainable products and shipping method options for our customers. We’re rapidly headed towards our ultimate vision, which is making Starcart the only shopping tool you’ll ever need. And this seems to be something that people really want, as it makes their everyday lives easier.“
The global e-commerce market, valued at $3.6 trillion in 2023, is projected to surpass $5.6 trillion by 2027 (Statista). Furthermore, e-commerce’s share of retail sales is expected to account for nearly one-fourth of all retail sales by 2026, with the current share being around 20% (eMarketer).
FinSMEs
28/08/2023