Commody, a Lithuanian startup introducing a new way to co-own collectible and historic cars through a digital-first collectible car co-ownership platform, has raised €500,000 in pre-seed funding. The fresh funding round was backed by venture capital funds Firstpick and Coinvest Capital, as well as five private investors.
About Commody
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Vilnius-based Commody was founded in 2023 by Vilius Oškeliūnas, Gerda Oškeliūnė, Vytautas Zabulis, Gintautas Ščerbavičius, Martynas Pranaitis, and Vitoldas Milius. The company enables car enthusiasts to co-own rare and iconic vehicles through collectible car units, without the costs and complexities of traditional car collecting.
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Ownership begins from just €25, enabling users to start building a car collection from their phone. All storage, insurance, and maintenance costs are covered by the primary owner, while users enjoy the benefits of co-ownership without the responsibility.
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Using NFT technology, Commody links collectible car units to each user’s ownership stake, with legal registration in the national vehicle registry. This ensures full traceability and legitimacy while keeping the experience seamless and digital.
“Collectible cars are more than just machines – they’re history on wheels, mechanical artistry, and an emotional connection across generations. Commody allows car lovers to own a part of something legendary. Just like Spotify changed how we consume music, we’re reimagining collecting. Commody brings car collecting into the digital age – with real ownership, zero logistics, and your entire collection right in your pocket,” says Vilius Oškeliūnas, co-founder, financial expert and investor of Commody.
Commody recently introduced its first featured car – a rare 2003 Porsche 911 Turbo (996), valued at €149,000.
Investment details
The fresh funding round was backed by venture capital funds Firstpick and Coinvest Capital, as well as five private investors.
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Firstpick is a €20 million high-speed venture capital fund and an accelerator for tech startups in the Baltics. The fund mainly invests in pre-seed Fintech, SaaS, Deeptech and Consumer marketplace startups, with an initial ticket of €50-€250K.
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FIRSTPICK recently launched an AI accelerator, providing up to €250k for Baltic startups.
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Coinvest Capital is an early-stage venture capital fund established by Lithuania’s national development institution, Investicijų ir Verslo Garantijos (INVEGA). The fund invests public capital entrusted by the EU and the Republic of Lithuania – together with business angels and other VC funds – into promising startups that create long-term value for Lithuania.
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Its portfolio includes deeptech startup Airvolve and Pixevia, a startup pioneering AI in retail technology.
The investment will fuel further development of the platform’s core functionality and support audience growth, with an initial focus on Western Europe and Scandinavia. Over the next five years, the platform aims to reach more than 700,000 users globally.
