Renow, a forward thinking recommerce startup harnessing artificial intelligence to streamline the resale of returned and pre owned products, has successfully raised $2 million in seed funding.
This capital injection aims to accelerate product innovation and expand the company’s reach across Europe.
Renow’s AI Tech Scores $2M to Optimize Resale Market
E commerce returns are notoriously complex and costly, often resulting in significant waste.
Renow’s AI driven platform tackles this challenge by automating key processes such as product inspection, condition grading, pricing, and sorting.
This not only improves efficiency but also maximizes resale value for retailers and customers, supporting a more sustainable circular economy.
The funding round was led by prominent investors from the Nordic region (names undisclosed), who recognize the growing market opportunity as consumers increasingly demand eco friendly shopping alternatives.
According to Renow’s CEO, “The returns process is one of e-commerce’s biggest hurdles. Our AI technology accelerates operations, enhances accuracy, and scales easily—turning recommerce into a profitable and practical solution.”
Renow plans to use the new funds to:
- Enhance its AI capabilities and automation workflows
- Expand partnerships across European markets
- Grow its engineering and commercial teams
The startup recently launched an AI-powered recommerce facility in Skurup, Sweden, in partnership with Postpac AB, marking a major milestone in operational growth.
With this investment, Renow is set to become a leading force in circular retail by enabling brands and retailers to unlock the full value of returned goods while minimizing environmental impact
