Czech e-commerce Outfindo secures €900k in a seed round

Prague-based e-commerce startup Outfindo has secured €900,000 in a seed funding round to enhance online shopping experience by using AI-powered product matching. The round was led by Czech VC Presto Ventures, Patero and Longevity Fellows participated, the Recursive informs.

• Founded in 2020 by Jan Mateju, Martin Chrz, Ondrej Bouda, and Zdenko Zvada, Outfindo is a SaaS solution driven by AI, designed to increase conversion rates by replicating the experience of a skilled and empathic expert. The platform is helpful when picking complex machines or products from categories where you may not be an expert.
• Outfindo’s AI-powered discovery and sales tool engages customers in interactive conversations, posing questions to aid in product selection based on their requirements, ultimately refining the available options. The solution reaches a 40% interaction rate and reduces returns by up to 70%.

“Nowadays, we come across a lot of companies trying to augment their business with AI, even though often it is not necessary. But Outfindo is at the right place at the right time, in an industry that is in need of such a solution. Their outstanding value proposition is proven by a quick sales process and high customer close rates,”

Roman Novacek, a Partner at Presto Ventures, comments.

• Presto Ventures is the lead investor in the round. It is a Prague-based investment company empowering talented startup founders from the wider CEE region.
• The round’s participants included Patero, a Czech investment firm, and Bob Dohnal and Miroslav Vlasák, members of Longevity Fellows, a non-profit community for people to build, join, or invest in startup projects.
• Outfindo will use the fresh funds to expand its R&D, focusing on product-tuning and expanding into new verticals, and go-to-market activities.