# H&M-backed eComID announces $17M seed for AI shopping memory > Source: > Published: 2026-08-25 12:09:55+00:00 # H&M-backed eComID announces $17M seed for AI shopping memory **The startup announced a Systemiq Capital-led round for former H&M Group digital customer experience lead Oscar Rundqvist's cross-brand Shopping Passport.** By [RuntimeWire Staff](/author/runtimewire-staff) ยท Published Primary source: [EU-Startups](https://www.eu-startups.com/2026/08/stockholms-ecomid-raises-e14-6-million-to-build-the-shopping-passport-for-ai-powered-personalised-commerce/) ## Why it matters Rundqvist is trying to turn fashion's costly returns problem into a cross-brand identity network before Google and commerce platforms make shopper context a standard feature. [eComID](https://www.ecomid.com/?ref=runtimewire) [announced a $17 million seed round](https://www.ecomid.com/blog/seed-round/?ref=runtimewire) on August 25, 2026. [EU-Startups also reported the announcement](https://www.eu-startups.com/2026/08/stockholms-ecomid-raises-e14-6-million-to-build-the-shopping-passport-for-ai-powered-personalised-commerce/?ref=runtimewire). Co-founder and CEO [Oscar Rundqvist](https://www.grebban.com/blog/oscar-rundqvist-from-ecomid-the-shopping-passport-for-the-internet/?ref=runtimewire), who previously led global digital customer experience at H&M Group, is betting that AI shopping agents will need a portable record of each customer's size, taste and purchase history. [Systemiq Capital](https://www.systemiqcapital.earth/home?ref=runtimewire) led the financing, according to [eComID's announcement](https://www.ecomid.com/blog/seed-round/?ref=runtimewire) and [EU-Startups](https://www.eu-startups.com/2026/08/stockholms-ecomid-raises-e14-6-million-to-build-the-shopping-passport-for-ai-powered-personalised-commerce/?ref=runtimewire). [Regeneration.VC](https://regeneration.vc/?ref=runtimewire), [Course Corrected](https://cc.vc/?ref=runtimewire), Swedish retailer [Stadium](https://www.stadium.se/our-responsibility-eng/about-stadium?ref=runtimewire) and returning investor [CapitalT](https://www.capitaltvc.com/?ref=runtimewire) participated. [EU-Startups reported](https://www.eu-startups.com/2026/08/stockholms-ecomid-raises-e14-6-million-to-build-the-shopping-passport-for-ai-powered-personalised-commerce/?ref=runtimewire) that H&M Group, which first backed eComID in 2023, remains a strategic investor. [eComID's 2024 funding announcement](https://www.ecomid.com/blog/pre-seed-round-announcement/?ref=runtimewire) identified the investing entity as H&M Group Ventures, H&M Group's investment arm. The announced round puts considerable capital behind an idea Rundqvist developed while working inside H&M: fashion retailers were asking shoppers to make sizing and product decisions with little useful context, then absorbing the cost when those decisions produced returns. In an interview, Rundqvist described eComID as a ["shopping passport that gives online shopping memory"](https://www.grebban.com/blog/oscar-rundqvist-from-ecomid-the-shopping-passport-for-the-internet/?ref=runtimewire). Rundqvist founded eComID in 2023 with Otto Nordgren, Alexander Real, Alexander Gardenberg, Jaime Ferrando and Patrick Rengifo. A [third-party company profile](https://theorg.com/org/ecomid/org-chart/otto-nordgren?ref=runtimewire) identifies Nordgren, eComID's CTO, as a former principal engineer at Instabox. The company [announced a 2.75 million euro pre-seed round](https://www.ecomid.com/blog/pre-seed-round-announcement/?ref=runtimewire) in March 2024, led by CapitalT and joined by H&M Group Ventures. The two disclosed rounds total about 17.33 million euros; no valuation was disclosed. ### From returns software to shopper identity eComID started with the narrower problem of preventing fashion returns before checkout. Its sizing tools warn shoppers against ordering several sizes and recommend a fit using information gathered across participating stores. The current pitch stretches further: eComID wants its Shopping Passport to become a persistent context layer for online commerce. Vera, eComID's AI shopping agent, uses that context for conversational search, product recommendations and sizing on a retailer's own website. A shopper could ask for an oversized wool coat matching an existing wardrobe or receive a size recommendation without rebuilding a profile for each store. [eComID says](https://www.ecomid.com/assets/press/ecomid_press_release_2025-10-16_eng.pdf?ref=runtimewire) that this approach lets brands keep the shopping interaction on their own websites rather than sending shoppers to a separate consumer shopping destination. In its funding announcement, eComID said, ["AI without context still starts from zero."](https://www.ecomid.com/blog/seed-round/?ref=runtimewire) [On its website, eComID says](https://www.ecomid.com/?ref=runtimewire) it works with more than 60 brands and reaches 20 million shoppers a month. The company also claims that participating shoppers have a 30% lower return rate and that brands using eComID record a 10% increase in conversion. The pages reviewed do not provide the underlying cohorts, measurement periods or revenue associated with those company-reported figures. eComID has not disclosed standard pricing, revenue, annual recurring revenue, churn or customer retention. The available funding coverage also does not establish whether customers pay through subscriptions, usage fees, revenue share or another structure. The investor mix is as important as the size of the round. H&M gives Rundqvist a connection to one of the industry's largest retail groups. The round also includes Truecaller co-founder Alan Mamedi, King co-founder Sebastian Knutsson, former Depop CEO Maria Raga and Legora founder August Erseus, according to [EU-Startups](https://www.eu-startups.com/2026/08/stockholms-ecomid-raises-e14-6-million-to-build-the-shopping-passport-for-ai-powered-personalised-commerce/?ref=runtimewire). These backers can open retail and technology networks that a conventional seed syndicate cannot. ### The passport needs trust and distribution A cross-brand identity layer becomes more useful as additional merchants join it. Every new brand gives shoppers another place to use their profile and gives eComID another source of fit, preference and purchase context. That network effect is the core of Rundqvist's bet, and it explains why eComID announced a large seed before the category settles around a dominant standard. It also creates a demanding privacy obligation. eComID's [privacy policy](https://www.ecomid.com/legal/privacy-policy/?ref=runtimewire) says its services may process order history, return rates, age, gender, height, weight, body shape, fit preferences and recommended sizes. [eComID says](https://www.ecomid.com/?ref=runtimewire) it holds ISO/IEC 27001:2022 certification, SOC 2 Type 2 compliance and GDPR compliance. The commercial value of the passport depends on consumers trusting eComID and participating retailers with a detailed record of how they shop and what fits their bodies. Platform standards create a second pressure point. [Google has described the Universal Commerce Protocol](https://blog.google/products/ads-commerce/agentic-commerce-ai-tools-protocol-retailers-platforms/?ref=runtimewire) as an open-source standard for agentic commerce developed with industry participants including Shopify, Etsy, Wayfair, Target and Walmart. Google later added catalog access, multi-item carts and [identity linking](https://blog.google/products-and-platforms/products/shopping/ucp-updates/?ref=runtimewire), allowing shoppers to carry membership benefits into integrated AI shopping services. UCP does not provide the fashion-specific sizing and preference profile eComID is building. It can make basic commerce interoperability easier, however, reducing the value of a passport that functions mainly as a connector. Rundqvist has to make eComID's accumulated shopper context, recommendation quality and merchant network difficult to reproduce using open protocols and a retailer's existing data. The announced financing gives eComID capital to pursue that position. Rundqvist's larger wager is that the data created while solving returns can become identity infrastructure for AI commerce. The next stage depends on whether shoppers accept one passport across brands and whether enough retailers decide they would rather share that layer than build their own.