The article Loopid: A AI platform for digital product passes by Christoph Hausel first appeared on Basic Thinking. You always stay up to date with our newsletter.
In the series “Start-up check!” Let us take a close look at the start-ups’ business models. Who is behind the company? What makes the start-up so special and what is there to criticize? Today: Loopid.
Start-ups: That sounds like inventory, future technologies, new markets. In reality, however, many of the start-ups often prove to be a mixture of an e-commerce idea, planless founders and shaky future prospects.
They exist: the thought leaders who tinker with the major problems and revolutionize business models. Finding and presenting this is the task of the format start-up check. Today: Loopid, a AI platform for the circular economy.
What is loopid?
- Corporate seat: Munich
- Foundation: 2024
- Founder team: Christian Adler and Alexis Gamboa
- product: DPP360, a AI-based platform for digital product passes, smart repair and recommerce solutions.
The challenge: a circular economy without bureaucratic hurdles
Making products more durable and attributing to the circulation is one of the central challenges of sustainable economy. The EU obliges companies to introduce digital product passes in more and more categories this year to provide information on materials, origin and recycling opportunities.
That sounds like an additional administrative effort, but offers enormous opportunities: Companies that accompany their products throughout the entire life cycle can not only extend the service life, but also open up new services and sources of income.
With DPP360, Loopid has developed a platform that starts here. Digital product passes are not only used to comply with regulatory requirements, but also enable data -based business models. Through AI-based digital twins, companies receive detailed information about their products. Customers can interact directly with them, such as to call up repair instructions or resale options.
A customer whose washing machine no longer works should be able to determine what it is about via DPP360 in the future. The machine analyzes the problem and suggests a solution: “I have a problem with the water pump. Please check the filter. If this is not enough, I can connect you to a repair service.”
This reduces service costs, extends the product life and provides immediate help – an approach to support users to solve simple problems themselves or to initiate the correct further steps.
Digital product passes in textiles
With a well-known outdoor brand, Loopid is currently piling up in the sports clothing industry-and not only in a test laboratory, but directly on the market. At the Schuster Sporthaus in Munich, customers can already interact with the first digital product passes.
One decisive advantage: The technology not only makes it easier to call up product information, but also improve the entire life cycle of the products. Buyers can see how they properly maintain their jacket where they have them repaired or whether they can resell them later.
This means that the digital product pass is not just a collection of data, but a tool that actively integrates brands and customers into a more sustainable use.
This cooperation shows how digital product passes can be more than a regulatory necessity. They open up completely new possibilities in customer communication, strengthen customer loyalty and make sustainable consumption more practical.
Digital product passes as an economic opportunity
Many companies consider digital product passes as an additional obligation. With DPP360, Loopid relies on the fact that this data can be used sensibly. Products with a digital history are easier to resell because the condition and use are understandable. Repairs become more efficient because all information about the product is available. And recycling processes benefit from more precise material information that enables a variety of separation.
Companies that do not simply lose sight of their products after the sale, but accompany them through digital product passes can create new service offers in the long term. If it is clear which spare parts are needed, manufacturers can provide targeted offers for repair kits or certified repair service providers. Customer loyalty not only arises over the first purchase, but also over the entire use.
Loopid wants to set standards in the electronics industry
Loopid is also active in the electronics sector. With Cicel 2.0 “Repair at Scale” workshop in Berlin, the company with over 50 industry experts was in exchange about how repairs can be made more economical and more practical.
A big problem in the industry: repairs are often more expensive than buying a new one because spare parts are difficult to access or the diagnosis of a defect is not worthwhile. Digital product passes can help here by ensuring that all relevant product information is recorded when selling. In this way, defects can be analyzed more quickly, ordered spare parts more specifically and reduce repair costs.
Loopid is also not only technology provider, but also involved in regulatory developments. The company is an active member of the EU Commission expert working groups who are working on the design of future regulations for digital product passes.
Financing and growth
Loopid was founded by Christian Adler, previously Associate Director for Digital Transformation and Artificial Intelligence at the Boston Consulting Group and Alexis Gamboa, who worked at EY, among others.
They have already been able to convince a number of investors of their vision: In the first round of finance in 2024, Vanagon Ventures and Jörg Walden, founder of IPOINS Systems, took part in the start-up.
In addition, Loopid received funding from the Federal Ministry of Economics and Climate Protection in order to further develop the technology.
With this support, Loopid plans to tackle further industries. The company sees potential, especially in the areas of fashion and electronics, since the need for sustainable solutions is particularly high.
Conclusion: Loopid
Loopid moves in a growing market for digital product passes. Competitors such as circularise (blockchain-based supply chains), Everledger (luxury goods) or large providers such as SAP and Siemens offer similar solutions. The Munich start-up is differentiated by the combination of regulatory, repair and recommerce services, but has to scale quickly in order to remain competitive.
The success will mainly depend on how well the platform can be integrated into existing company systems – a simple and efficient connection could make it easier to enter the market. In addition, the solution offers great potential for larger companies if it can be scaled flexibly enough.
The user acceptance will also be an exciting question: If customers actively use the interactive functions, the model could set new standards in the circular economy. With the previous financing rounds, a solid foundation has been laid, further capital could accelerate growth and open up new industries.
Also interesting:
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- CO2 management for companies-Plan A in the start-up Check
- Recycled garbage bags from “wild” plastic-Wildplastic in the start-up check!
- Start-up check! Myscribe wants to revolutionize hospital documentation with AI
The article Loopid: A AI platform for digital product passes by Christoph Hausel first appeared on Basic Thinking. Follow us too Google News and Flipboard.
As a tech industry expert, I see Loopid as a promising AI platform that has the potential to revolutionize the way digital product passes are managed. By leveraging artificial intelligence, Loopid can offer personalized recommendations, streamline the pass purchasing process, and provide valuable insights to businesses.
The use of AI can greatly enhance the user experience by offering tailored suggestions based on individual preferences and behaviors. This not only improves customer satisfaction but also increases the likelihood of repeat purchases.
Additionally, Loopid’s automation capabilities can simplify the pass purchasing process for both consumers and businesses. By removing unnecessary steps and reducing friction, Loopid can help drive sales and improve operational efficiency.
Furthermore, the data and analytics provided by Loopid can offer businesses valuable insights into customer behavior, trends, and opportunities for growth. This information can be used to optimize marketing strategies, improve product offerings, and drive business success.
Overall, Loopid has the potential to be a game-changer in the digital product pass industry, offering a seamless and personalized experience for both consumers and businesses. I look forward to seeing how this AI platform will continue to innovate and shape the future of digital product passes.
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