ReturnGO an Israeli-based startup announced the completion of a $6.5 million Seed round.
The round was led by the TPY Capital fund, along with other funds including Cresson, GoodCompany, SeedIL, and Aristagroa. Leading angel investors such as Yuval Tal, Dan Adika, Benny Schneider, and Haim Bar-On also joined the round.
The Israeli startup has developed a machine-learning-based platform that enables efficient management of returns and exchanges for products purchased online.
Round: Seed Round
Funding Month: June 2022
Lead Investors: TPY Capital fund
Additional Investors: Cresson, GoodCompany, SeedIL, Aristagroa, Yuval Tal, Dan Adika, Benny Schneider, and Haim Bar-On
Company Website: https://returngo.ai/about-us/
Software Category: AI-driven returns management platform
About the Company: ReturnGO has developed a machine-learning-based platform that enables efficient management of returns and exchanges for products purchased on e-commerce sites. The return phenomenon that Amazon set as a standard is one of the great challenges for the e-commerce industry and poses a serious threat to its profitability and even the survival of online stores.