Silq, a San Jose, CA-based provider of a technology platform and local expertise to help brands digitize and simplify their product development and production process, raised $17.6m in Series A funding.
The round was co-led by F-Prime Capital and Flexport Ventures with participation from Eight Roads Ventures India and existing investors Surface Ventures, Forum Ventures and other angels. As part of the round, Ben Gorman of F-Prime Capital, joined the board.
The company intends to use the funds to expand its global presence of factory partners, grow its team of trained experts, including on-site merchandisers and quality inspectors across Asia and strengthen the technology platform, equipping brands with production data and updates.
Led by Ram Radhakrishnan, CEO, Silq provides a platform for apparel, footwear, home goods and accessory brands to get the transparency into real-time production progress. The company has digitized the manufacturing supply chain, improving product quality and accelerating speed-to-market. Silq’s on-site merchandisers and quality inspectors are carefully vetted, trained and certified. They work as an extension of a brand’s product development and production team, making scheduled visits to the factory to track production milestones, perform inspections and communicate updates via Silq’s proprietary technology platform. Brands use this data to improve forecasting and planning, guaranteeing landed cost by enabling them to book freight up to 30 days in advance.
Customers include direct-to-consumer (DTC) and wholesale fashion and apparel brands such as Barry’s, Mightly, Mizzen+Main and Lambert in addition to design and production houses such as Pinpoint Merchandising and Stars Design Group.
FinSMEs
10/03/2022