OMO, the company behind the Cocoul service for appraising and selling used items, announces a successful seed funding round of 100 million yen with investments from notable venture capital firms.

OMO, a company established in 2016 and operating under the hybrid online and offline used item purchase support service known as Cocoul, announced on October 3rd that it has successfully raised approximately 100 million yen in a seed funding round. The funding was made possible through investments from CyberAgent Capital, Dual Bridge Capital, and NES, which participated in a third-party allocation of shares.

Cocoul serves as a platform for users to receive expert appraisals and price quotes for unwanted items from the comfort of their own homes. Once the price is agreed upon, users can complete the sale by bringing their items to a nearby partner store. The company has specifically focused on the purchase of high-value used golf equipment, recognizing the challenges in appraising these items due to their unique nature and the specific shipping requirements they entail.

By partnering with existing stores, including golf driving ranges, OMO has expanded its drop-off locations nationwide, making the process more accessible for users looking to sell their equipment.

Masayuki Kono, the CEO of OMO, founded the company with a vision to address the in-store purchase challenges he identified while working in the used item purchase and resale sector. Before launching OMO, Kono gained experience at a major housing manufacturer and a construction consulting firm, and he had previously initiated the power tool purchase and sales business “Tool UP” while freelancing.

In addition to Cocoul, OMO offers a range of services that include “ammba,” an ambassador marketing platform, and operates a power tool purchase and sales specialty store under the same name. These offerings provide a diversified revenue stream by addressing various segments within the used items and marketing services market.

Source: Noah Wire Services