Helsinki-based Ovido, a supply chain and product data automation platform, has raised €2.4M in seed funding. The company also announces its new software solution for managing regulatory compliance, supplier collaboration, and product data management.
The funding will be used to accelerate product development and scale go-to-market efforts across Europe, starting with the textile industry, one of the first sectors impacted by the EU’s new Digital Product Passport (DPP) regulation.
In the fashion and textile industry, most companies collect data to meet regulatory requirements, but these efforts are often fragmented and brand-driven. At the same time, manufacturers still use outdated, manual tools, like PDFs, Excels, and legacy ERP systems, that can't handle today’s growing data demands.
Ovido offers a solution - an affordable, user-friendly AI-powered platform accessible even to companies with limited digital infrastructure.
Ovido makes it easy for businesses to collect, manage, and share product data related to traceability, sustainability, and bills of materials—helping them stay compliant and build stronger supply chain partnerships. Companies can request data directly from suppliers without requiring sign-ups or expensive onboarding. By automating data management across the value chain, Ovido provides SMEs with access to enterprise-grade insights.
Suvi Haimi, CEO and co-founder of Ovido, said:
We started Ovido because manufacturers need a smarter, simpler way to deal with rising compliance demands. Regulations are becoming more complex, but the tools haven’t kept up. Ovido replaces scattered, manual processes with a centralised system that directly supports day-to-day work.
With increasing data requirements driven by EU regulations like the Ecodesign for Sustainable Products Regulation (ESPR), manufacturers must now provide detailed, product-level information on sustainability, safety, and recyclability, often sourced from their entire supply chain.
Ovido simplifies these compliance challenges by automating data collection and centralising regulatory processes. Its built-in reporting tools make it easy for companies of any size to share key data with stakeholders—such as retailers, brands, or regulators—and to create custom technical data sheets tailored to client needs.
Antti Toponen, co-founder of Ovido, added:
Regulatory compliance is just the starting point. Once product data is structured and centralised, it becomes a real advantage, driving sustainability, transparency, supplier performance, and ultimately, greater profitability. We believe high-quality product data should be a standard tool for every manufacturer, not just the biggest players with custom systems.
With features such as smart supplier inquiries, a DPP builder, and AI-powered document parsing, Ovido is designed to help companies turn regulatory obligations into a foundation for digital transformation.
The round was led by Lifeline Ventures and Kvanted, with participation from Illusian.
Illusian's Ilkka Paananen, CEO and co-founder of Supercell, shared that they are excited to support Ovido’s mission to transform supply chain data management, adding:
They're strong founders with a good grasp of both the regulatory landscape and what manufacturers actually need. With the right product and sharp execution, they're in a great position to help companies turn complex requirements into a competitive advantage.
Ovido will use the new funding to grow its team, enhance product functionality, and expand its presence in other verticals such as packaging and consumer goods. First steps in the chemical sector have been taken together with Kiilto and Ovido is helping them in automated data collection from the supply chain.
Lead image: Freepik
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