Neocom secures 4.5 million US dollars

With a strategic relocation to the USA, Neocom is sending a clear signal for global expansion. The digital platform aims to become a leader in the e-commerce sector.

Munich - Neocom, a startup in digital buying advice, announced that it has secured USD 4.5 million in funding. Carbide Ventures and Sangha Capital lead this investment round. This capital raise marks a significant step for the company to address two of the most challenging aspects of online shopping: "choice overload" due to a lack of product advice for consumers and insufficient access to unique customer data for businesses.

We are on a mission to redefine digital storefronts.

Dana Nedamaldeen, CEO and Founder Neocom

Neocom's strategic move to the US is a clear statement in the company's global expansion strategy. Neocom strives to become a leader in the e-commerce sector and make its solutions accessible to a wider audience. The focus is on intelligent algorithms that guide users step-by-step through usage-oriented questions to suitable products. The platform delivers precise product recommendations in real time, while at the same time collecting valuable data through the analysis of customer behavior.

The zero-party data and insights gained through interactions with consumers are invaluable for retailers and brands.

Sebastian Slomski, CTO and co-founder Neocom

Dan Weirich, Partner at Carbide Ventures, emphasizes the importance of Neocom's data-driven strategy: "Our investment in Treasure Data has demonstrated the importance of high-quality customer data. Neocom's expertise in utilizing it makes them a standout company in the e-commerce industry. We look forward to supporting their expansion into the US market."

To date, Neocom has helped over 5 million consumers find the right product. The diversity of the platform also impresses well-known companies. With the new funding, Neocom is prepared to improve the online shopping experience and address the challenges posed by product diversity and the lack of detailed customer data. The move to the US marks a key step in its global expansion and ambition to become a leader in the e-commerce sector. The startup secured significant funding in December 2020, which we previously reported on in detail.