January 21, 2025
Czech AI Startup Outfindo Secures €1.2M in Late-Seed Funding to Scale AI-Driven Shopping Platform
Prague, Czech Republic –
Outfindo, a AI-driven SaaS platform transforming online shopping, has raised €1.2M in a late-seed funding round led by Eleven Ventures, with participation from Lighthouse Ventures, Borovička Capital. The funding, announced on January 20, 2025, will enable the company to enhance its AI capabilities, expand its product offerings, and grow its presence in international markets.
About the company
Founded in 2020 by Jan Mateju, Martin Chrz, and Ondrej Bouda, Outfindo specializes in creating a seamless shopping experience for customers facing complex purchasing decisions. The platform replicates the expertise of a skilled advisor, helping users confidently choose products like washing machines or bicycles. By leveraging two proprietary AI models, Beacon and Diver, Outfindo offers personalized guidance and improves product data accuracy. Its solutions integrate directly into retailer websites, enabling a conversational, decision-based process for product selection.
Purpose of financing
With this new funding, Outfindo plans to accelerate its expansion into new markets and broaden its product categories, including electronics, home appliances, and sports equipment. Additionally, the company aims to develop a self-service platform to make its technology accessible to smaller e-commerce retailers. The investment will also support the enhancement of Outfindo’s AI models to deliver deeper insights into customer behavior and advanced analytics for retailers.
CEO’s Insights
Jan Matějů, CEO and founder of Outfindo, expressed his excitement about the partnership with Eleven Ventures, stating:
“We are thrilled to join the Eleven family and benefit from their expertise and network. Their support will be instrumental in driving our mission to revolutionize the online shopping experience through AI.”
Investor Perspective
Ivaylo Simov, partner at Eleven Ventures, emphasized the potential of Outfindo’s solution, saying:
“AI is transforming how we shop and choose products. Outfindo’s value proposition is perfectly aligned with this evolution, and we’re excited to support their journey.”
Conclusion
Outfindo’s innovative approach has already demonstrated significant results. Retailers using its platform have seen conversion rates triple and product returns decrease by up to 70%. Major partners, including Allegria, Cycles UK, and Grenion, have adopted the platform to enhance their online shopping experiences. With its AI-powered platform and new funding, Outfindo is poised to lead the next wave of innovation in e-commerce, bridging the gap between traditional retail expertise and digital shopping.
For more information, visit Outfindo's on LinkedIn.