SupplyCompass, a London, UK and Mumbai, India-based design-to-delivery sourcing platform, raised £1.5m in seed funding.
The round was led by Episode 1, with participation from Unicorn Ascension, Ascension Ventures and Andy Chung and Philipp Moehring from AngelList.
The company intends to use the funds to develop its technology and expand its curated marketplace of international manufacturers.
Co-founded by Gus Bartholomew and Flora Davidson, SupplyCompass is a design-to-delivery sourcing platform that combines supply chain partnerships with a cloud-based platform and team of production experts to make sustainable sourcing and ongoing manufacturing management easy and efficient. Launched in early 2018, the company now has 50 progressive factory partners in India (plus Sri Lanka and Nepal) and mainland Europe (including Portugal, Spain, Italy).
How It Works
Suitable fashion and interiors companies are matched with a manufacturer within one day for free, with pricing based on a commission structure depending on the order value and manufacturing costs. SupplyCompass then operates on a three-stage approach:
1) Intuitive product development: accelerates the design development process with simplified processes, digital tech packs and sustainably-led designing.
2) manufacturer selection: matches brands with world-class suppliers and manufacturers, using its visited, vetted and hand-picked extensive network, who adhere to responsible manufacturing practices.
3) Streamlined production management: creates fast and efficient global supply chains by helping brands operate via a single dashboard with structured processes and collaborative manufacturer relationships.