OpenSC, a Sydney, Australia-based impact company which provides a technology platform for driving sustainable and ethical supply chains, raised $4m in seed funding.
Backers included impact investors Working Capital (supported by Humanity United), an early-stage venture fund focused on scalable solutions that promote ethical supply chains and protect vulnerable workers, and Christian Wenger, founder of digitalswitzerland.
The company intends to use the funds to further develop its platform.
Co-founded by WWF-Australia (the World Wide Fund for Nature) and BCG Digital Ventures, and led by Markus Mutz, incoming CEO, OpenSC is an impact venture that uses advanced technology to enable more sustainable, ethical, and profitable supply chains. Businesses and consumers can use its platform to:
– verify claims about sustainable and ethical production using data science and machine learning;
– trace products throughout supply chains using IoT and blockchain; and
– share information with consumers to promote purchasing of more responsible products.