Oslo-based e-commerce startup Outshifter has completed a €1.2 million funding round to create a more balanced e-commerce playing field and build new partnerships. The company has recently tied up with food delivery giant Wolt, Egmont and other e-commerce players.
The platform’s single API standardises and synchronises product data between the supplier's commerce systems (e.g. Shopify, Squarespace) and sales channels (e.g. online stores, media outlets, apps, and marketplaces). Thus, it allows more online surfaces to use e-commerce as a revenue stream and enables suppliers to scale their online distribution.
Danielle Tschudi, founder and CEO, Outshifter said: “All e-vommerce systems have their own way of managing product data like SKUs, stock, pricing, etc. And the sales channels with access to this data (supply), dominate the market. We believe the lack of a standard for managing product data limits the ability to distribute it. By making it possible to access and synchronise product data through one universal format, we want to create a more level e-commerce playing field,”
“We are excited to back Outshifter and the market making opportunity where smaller e-tailers can cost-effectively tap into new audiences by connecting them in a simple and efficient way with established web destinations, who in turn will get new means to monetise their existing audiences,” added Maki.vc’s partner Pirkka Palomäki.