Vienna-Based Minimist Raises €1 Million Pre-Seed Funding
Minimist, a startup based in Vienna, has successfully secured €1 million in a pre-seed funding round. The company is focused on making second-hand selling effortless by leveraging AI technology to streamline the listing process for second-hand retailers. This funding round was led by Tilia Impact Ventures.
Company Background
Founded in 2024, Minimist is on a mission to simplify the process of selling second-hand items. The company develops an AI-powered listing engine that helps retailers digitize unique items quickly, aiming to make second-hand shopping as seamless as purchasing new products.
Anna Greil, Co-Founder and COO of Minimist, is part of the leadership team that drives the company's strategic vision. The startup's innovative approach has already attracted a diverse list of clients, including retailers such as Helen & Douglas House in the UK, VinoKilo in Germany and Switzerland, and Diakonia in Germany.
Use of Funds
The newly acquired funds will primarily be used to enhance Minimist's AI technology, which functions as a 'co-pilot for selling.' This technology enables the digital listing of items in under 30 seconds, addressing a significant challenge in the global second-hand market: the high cost and effort associated with photographing and listing inventory. The platform aims to onboard more retailers and expand its reach beyond Austria.
Market Potential
Minimist is tapping into a market valued at hundreds of billions, where a staggering 93% of inventory never makes it to online marketplaces. The company's solution aims to lower barriers for retailers, making it easier to list and sell second-hand items online.
Future Outlook
With this funding, Minimist plans to solidify its position in the global second-hand retail market. The focus will be on further developing its AI capabilities and expanding its customer base internationally.
Minimist's innovative approach and fresh capital injection position it well to tackle existing challenges in the second-hand market, potentially reshaping how second-hand goods are bought and sold globally.