TrusTrace, a Stockholm, Sweden-based software company with a platform for supply chain transparency and product traceability within the fashion, food and retail industries, raised $6m in Series A funding.
The round was led by Industrifonden and Fairpoint Capital, together with previous investors BackingMinds, and with support from Fashion for Good.
The new capital will be used to further accelerate global expansion, expand product development, and strengthen the team to continue bringing supply chain transparency to brands who want to know what they sell, and to consumers who care about what they buy.
Founded in 2016 and led by Shameek Ghosh, CEO, TrusTrace is a SaaS provider that empowers fashion, food and retail brands to fully understand and take responsibility for the social and environmental impact of their supply chains. The platform, built on AI, Blockchain and BOTS through an open architecture, integrates with retailer, manufacturer and supplier systems, as well as those of 3rd parties such as certification agencies, lifecycle datasets and other sustainability solution providers. With more than 8,000 suppliers, 250,000 products and over $12 billion worth of goods tracked on the platform, the company serves has a portfolio of more than 40 customers, including Fjällräven, Filippa K, Zalando, Decathlon and Coop.
FinSMEs
14/10/2021